AIA Group Ltd Has $3.03 Million Stake 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 grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 26.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,468 shares of the financial services provider's stock after acquiring an additional 12,917 shares during the period. AIA Group Ltd's holdings in Brookfield Asset Management were worth $3,027,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Brookfield Asset Management by 1.8% during the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock worth $832,833,000 after buying an additional 302,852 shares during the last quarter. Capital International Investors raised its stake in shares of Brookfield Asset Management by 0.7% during the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider's stock worth $873,354,000 after buying an additional 116,008 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Brookfield Asset Management by 1.2% during the first quarter. Bank of Nova Scotia now owns 2,269,833 shares of the financial services provider's stock worth $109,913,000 after buying an additional 27,913 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Brookfield Asset Management by 12.5% during the fourth quarter. Bank of America Corp DE now owns 1,939,109 shares of the financial services provider's stock worth $105,080,000 after buying an additional 215,670 shares during the last quarter. Finally, Madison Asset Management LLC raised its stake in shares of Brookfield Asset Management by 9.5% during the first quarter. Madison Asset Management LLC now owns 1,901,985 shares of the financial services provider's stock worth $92,151,000 after buying an additional 165,098 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BAM has been the subject of several recent analyst reports. Jefferies Financial Group upped their target price on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Scotiabank upped their target price on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the company a "sector outperform" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $58.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Finally, TD Securities upped 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. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.33.

Brookfield Asset Management Stock Performance

Shares of BAM traded down $0.33 during trading hours 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 firm has a market cap of $100.30 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 2.26 and a beta of 1.44. The business has a fifty day moving average of $58.13 and a 200-day moving average of $55.14. Brookfield Asset Management Ltd. has a 12 month low of $39.19 and a 12 month high of $64.10. The company has a quick ratio of 1.31, a current ratio of 1.25 and a debt-to-equity ratio of 0.14.

Brookfield Asset Management Dividend Announcement

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

Brookfield Asset Management 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.