The Manufacturers Life Insurance Company boosted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM – Get Rating) (TSE:BAM.A) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,991,648 shares of the financial services provider's stock after buying an additional 285,949 shares during the period. Brookfield Asset Management makes up approximately 0.5% of The Manufacturers Life Insurance Company's holdings, making the stock its 28th biggest holding. The Manufacturers Life Insurance Company's holdings in Brookfield Asset Management were worth $780,582,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. King Luther Capital Management Corp raised its holdings in Brookfield Asset Management by 223.9% during the 2nd quarter. King Luther Capital Management Corp now owns 56,165 shares of the financial services provider's stock worth $2,498,000 after buying an additional 38,827 shares during the period. Walleye Capital LLC acquired a new stake in Brookfield Asset Management during the 1st quarter worth approximately $443,000. Sargent Bickham Lagudis LLC grew its stake in shares of Brookfield Asset Management by 7.3% during the 3rd quarter. Sargent Bickham Lagudis LLC now owns 58,347 shares of the financial services provider's stock worth $2,386,000 after acquiring an additional 3,981 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Brookfield Asset Management during the 2nd quarter worth approximately $7,357,000. Finally, Veriti Management LLC grew its stake in shares of Brookfield Asset Management by 5.7% during the 3rd quarter. Veriti Management LLC now owns 14,477 shares of the financial services provider's stock worth $592,000 after acquiring an additional 781 shares in the last quarter.
Get Brookfield Asset Management alerts:Analysts Set New Price Targets
Several brokerages have recently weighed in on BAM. TheStreet cut shares of Brookfield Asset Management from a "b-" rating to a "c" rating in a research note on Monday, November 28th. JPMorgan Chase & Co. began coverage on shares of Brookfield Asset Management in a research note on Tuesday, December 20th. They set an "overweight" rating and a $35.00 price target for the company. The Goldman Sachs Group began coverage on shares of Brookfield Asset Management in a research note on Tuesday, December 13th. They set a "buy" rating and a $40.00 price target for the company. Royal Bank of Canada began coverage on shares of Brookfield Asset Management in a research note on Wednesday, December 21st. They set an "outperform" rating and a $35.00 price target for the company. Finally, BMO Capital Markets initiated coverage on shares of Brookfield Asset Management in a research note on Tuesday, December 13th. They issued a "market perform" rating and a $32.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Brookfield Asset Management presently has a consensus rating of "Moderate Buy" and an average target price of $48.11.
Brookfield Asset Management Trading Down 1.1 %
Brookfield Asset Management stock opened at $31.51 on Thursday. Brookfield Asset Management Ltd. has a 12-month low of $26.76 and a 12-month high of $36.50. The business's 50-day moving average price is $36.43 and its two-hundred day moving average price is $42.39.Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last released its earnings results on Thursday, November 10th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. The business had revenue of $23.42 billion during the quarter. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.18 EPS for the current year.
Brookfield Asset Management Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Wednesday, November 30th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Tuesday, November 29th.
Insider Buying and Selling at Brookfield Asset Management
In other news, insider Brookfield Asset Management In sold 2,135,176 shares of the business's stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $24.09, for a total transaction of $51,436,389.84. Following the sale, the insider now directly owns 13,281,712 shares in the company, valued at $319,956,442.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Oaktree Capital Management Lp sold 1,000,000 shares of the business's stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $9.60, for a total transaction of $9,600,000.00. Following the sale, the insider now directly owns 6,797,000 shares in the company, valued at $65,251,200. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brookfield Asset Management In sold 2,135,176 shares of the business's stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $24.09, for a total value of $51,436,389.84. Following the sale, the insider now owns 13,281,712 shares in the company, valued at $319,956,442.08. The disclosure for this sale can be found here.
Brookfield Asset Management Profile
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Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.
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