Aigen Investment Management LP Grows Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Aigen Investment Management LP increased its holdings in Brookfield Asset Management by 121.6%, owning a total of 8,918 shares worth $432,000 as of the latest SEC filing.
• Brookfield Asset Management announced a quarterly dividend of $0.4375 per share, representing a 2.8% yield, with a payout ratio of 117.45%.
• Analysts have a consensus rating of "Moderate Buy" for Brookfield Asset Management, with an average price target of $62.33 and various upgrades from multiple analysts.

Aigen Investment Management LP boosted its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 121.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,918 shares of the financial services provider's stock after buying an additional 4,893 shares during the period. Aigen Investment Management LP's holdings in Brookfield Asset Management were worth $432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BAM. Kirr Marbach & Co. LLC IN increased its stake in shares of Brookfield Asset Management by 0.6% during the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock worth $1,715,000 after buying an additional 203 shares during the period. Focus Financial Network Inc. increased its stake in shares of Brookfield Asset Management by 5.2% during the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock worth $215,000 after buying an additional 218 shares during the period. NewEdge Advisors LLC increased its stake 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 worth $47,000 after buying an additional 325 shares during the period. Capital International Ltd. CA increased its stake in shares of Brookfield Asset Management by 0.3% during the fourth quarter. Capital International Ltd. CA now owns 161,077 shares of the financial services provider's stock worth $8,729,000 after buying an additional 477 shares during the period. Finally, Rossby Financial LCC purchased a new stake in shares of Brookfield Asset Management during the first quarter worth approximately $28,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM traded down $0.71 during mid-day trading on Friday, hitting $61.40. 920,365 shares of the company were exchanged, 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 50 day simple moving average of $58.32 and a 200-day simple moving average of $55.12. Brookfield Asset Management Ltd. has a 1-year low of $39.19 and a 1-year high of $64.10. The firm has a market cap of $100.55 billion, a price-to-earnings ratio of 41.21, a price-to-earnings-growth ratio of 2.24 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. The company had revenue of $1,107,960 billion for the quarter, compared to analyst estimates of $1.29 billion. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BAM. TD Securities upped their target price on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Jefferies Financial Group increased their price target 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. increased their price target 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. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $58.00 price target on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Finally, Piper Sandler began coverage on shares of Brookfield Asset Management in a research note on Monday, June 30th. They issued a "neutral" rating and a $60.00 price target on the stock. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and an average 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.