Brookfield Asset Management Ltd. (NYSE:BAM) Shares Acquired by AGF Management Ltd.

Key Points

• AGF Management Ltd. increased its stake in Brookfield Asset Management by 60.5%, acquiring an additional 604,395 shares, bringing its total ownership to approximately 1.6 million shares valued at $77.7 million.
• Brookfield Asset Management recently announced a quarterly dividend of $0.4375 per share, with a dividend yield of 2.9% and a payout ratio of 117.45%.
• Institutional investors now hold 68.41% of Brookfield Asset Management's stock, reflecting significant interest from the investment community.

AGF Management Ltd. boosted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 60.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,603,608 shares of the financial services provider's stock after acquiring an additional 604,395 shares during the period. AGF Management Ltd. owned 0.10% of Brookfield Asset Management worth $77,742,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BAM. ST Germain D J Co. Inc. bought a new stake in shares of Brookfield Asset Management during the first quarter valued at approximately $26,000. Rossby Financial LCC bought a new stake in shares of Brookfield Asset Management during the first quarter valued at approximately $28,000. NewEdge Advisors LLC raised its position in shares of Brookfield Asset Management by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after buying an additional 325 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Brookfield Asset Management by 1,079.6% during the first quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock valued at $53,000 after buying an additional 1,004 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Brookfield Asset Management during the fourth quarter valued at approximately $54,000. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Down 0.5%

Shares of BAM traded down $0.33 during midday trading on Thursday, hitting $62.18. The company had a trading volume of 1,540,947 shares, compared to its average volume of 2,103,016. The company's 50-day simple moving average is $58.13 and its 200-day simple moving average is $55.14. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.25. The firm has a market capitalization of $100.30 billion, a P/E ratio of 41.73, a P/E/G ratio of 2.26 and a beta of 1.44. Brookfield Asset Management Ltd. has a 1 year low of $39.19 and a 1 year high of $64.10.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's dividend payout ratio (DPR) is 117.45%.

Analyst Upgrades and Downgrades

BAM has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price objective on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a research report on Wednesday. Royal Bank Of Canada began coverage on shares of Brookfield Asset Management in a research report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $58.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 7th. TD Securities boosted their target price on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Wells Fargo & Company boosted their target price on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.33.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.