Assenagon Asset Management S.A. Increases Stock Position in Brookfield Asset Management Ltd. $BAM

Assenagon Asset Management S.A. raised its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 689.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,075 shares of the financial services provider’s stock after buying an additional 70,799 shares during the period. Assenagon Asset Management S.A.’s holdings in Brookfield Asset Management were worth $3,593,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BAM. Connor Clark & Lunn Investment Management Ltd. raised its stake in Brookfield Asset Management by 72.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock valued at $222,161,000 after purchasing an additional 1,642,375 shares during the last quarter. Korea Investment CORP boosted its stake in Brookfield Asset Management by 21.3% during the 3rd quarter. Korea Investment CORP now owns 284,049 shares of the financial services provider’s stock worth $16,168,000 after purchasing an additional 49,917 shares during the last quarter. Vanguard Group Inc. boosted its stake in Brookfield Asset Management by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock worth $928,414,000 after purchasing an additional 297,790 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of Brookfield Asset Management by 48.6% during the fourth quarter. Cooke & Bieler LP now owns 2,001,903 shares of the financial services provider’s stock worth $104,880,000 after buying an additional 655,009 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Brookfield Asset Management in the third quarter valued at about $23,197,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 1.3%

Shares of Brookfield Asset Management stock opened at $44.03 on Tuesday. The stock has a 50 day moving average of $47.58 and a 200 day moving average of $48.70. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $72.13 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 1.79 and a beta of 1.26. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.43 billion. As a group, research analysts predict that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a $0.5025 dividend. This represents a $2.01 annualized dividend and a yield of 4.6%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s payout ratio is 130.52%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BAM shares. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings cut shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. Canadian Imperial Bank of Commerce set a $62.50 price objective on shares of Brookfield Asset Management in a report on Monday, May 11th. Piper Sandler reissued a “neutral” rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. Finally, JPMorgan Chase & Co. lowered their target price on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.21.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.