AIA Group Ltd Raises Stock Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• AIA Group Ltd increased its stake in Brookfield Asset Management by 26.1%, acquiring an additional 12,917 shares, bringing its total to 62,468 shares valued at approximately $3 million.
• The stock is currently rated as a "Moderate Buy" with an average price target of $62.33 based on various analysts' ratings, including a buy rating from TD Securities at a price objective of $75.00.
• Brookfield Asset Management declared a quarterly dividend of $0.4375 per share, translating to an annualized dividend of $1.75 and a dividend yield of 2.8%.

AIA Group Ltd increased its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 26.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,468 shares of the financial services provider's stock after purchasing an additional 12,917 shares during the period. AIA Group Ltd's holdings in Brookfield Asset Management were worth $3,027,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BAM. ST Germain D J Co. Inc. bought a new position in shares of Brookfield Asset Management in the 1st quarter worth $26,000. Rossby Financial LCC bought a new position in Brookfield Asset Management during the 1st quarter valued at $28,000. NewEdge Advisors LLC lifted its stake in Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 325 shares in the last quarter. Larson Financial Group LLC lifted its stake in Brookfield Asset Management by 1,079.6% during the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 1,004 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in Brookfield Asset Management during the 4th quarter valued at $54,000. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Performance

BAM traded down $0.71 during trading hours on Friday, hitting $61.40. The stock had a trading volume of 920,365 shares, compared to its average volume of 1,839,362. The company has a quick ratio of 1.31, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The stock has a market cap of $99.04 billion, a PE ratio of 41.21, a price-to-earnings-growth ratio of 2.27 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. The company's fifty day simple moving average is $58.32 and its 200 day simple moving average is $55.16.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's payout ratio is presently 117.45%.

Analyst Ratings Changes

BAM has been the topic of several recent analyst reports. CIBC raised their price objective on Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. National Bankshares set a $71.00 price objective on Brookfield Asset Management and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Morgan Stanley raised their price objective on Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Wells Fargo & Company raised their target price on Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. raised their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.33.

About Brookfield Asset Management

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.