Alberta Investment Management Corp Has $55.31 Million Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Alberta Investment Management Corp reduced its stake in Brookfield Asset Management by 9.3%, now holding 1,142,775 shares valued at approximately $55.31 million.
• Analysts have varying ratings for Brookfield Asset Management, with a consensus average rating of "Moderate Buy" and an average price target of $62.06.
• Brookfield Asset Management announced a quarterly dividend of $0.4375 per share, indicating an annual yield of 2.8% despite a high payout ratio of 124.11%.

Alberta Investment Management Corp cut its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,142,775 shares of the financial services provider's stock after selling 117,168 shares during the quarter. Alberta Investment Management Corp owned 0.07% of Brookfield Asset Management worth $55,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. grew its holdings in Brookfield Asset Management by 30.5% during the fourth quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider's stock worth $4,033,000 after buying an additional 17,369 shares in the last quarter. LPL Financial LLC grew its stake in shares of Brookfield Asset Management by 12.8% in the 4th quarter. LPL Financial LLC now owns 52,181 shares of the financial services provider's stock worth $2,828,000 after acquiring an additional 5,934 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Brookfield Asset Management by 2.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,550,083 shares of the financial services provider's stock worth $83,999,000 after acquiring an additional 30,892 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Brookfield Asset Management by 39.9% in the fourth quarter. Blair William & Co. IL now owns 27,037 shares of the financial services provider's stock valued at $1,465,000 after purchasing an additional 7,716 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Brookfield Asset Management during the fourth quarter valued at about $18,785,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BAM shares. TD Securities upped their price objective on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday. Piper Sandler started coverage on Brookfield Asset Management in a research note on Monday, June 30th. They issued a "neutral" rating and a $60.00 target price on the stock. National Bank Financial started coverage on Brookfield Asset Management in a research report on Tuesday. They set an "outperform" rating and a $71.00 price target for the company. National Bankshares set a $71.00 price target on Brookfield Asset Management and gave the stock an "outperform" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Brookfield Asset Management has an average rating of "Moderate Buy" and an average target price of $62.06.

Brookfield Asset Management Trading Down 0.9%

Shares of Brookfield Asset Management stock opened at $61.64 on Friday. The stock has a market capitalization of $100.94 billion, a P/E ratio of 43.72, a P/E/G ratio of 2.39 and a beta of 1.43. Brookfield Asset Management Ltd. has a 52-week low of $38.18 and a 52-week high of $63.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31. The stock's 50-day simple moving average is $57.20 and its 200 day simple moving average is $54.80.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. As a group, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were issued a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a yield of 2.8%. Brookfield Asset Management's payout ratio is presently 124.11%.

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.

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