Allianz Asset Management GmbH Has $494,000 Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Allianz Asset Management GmbH reduced its stake in Brookfield Asset Management Ltd. by 82.7%, resulting in holdings worth $494,000 after selling 48,855 shares during the first quarter.
• Recent analyst upgrades include a buy rating from Bank of America with a price target of $65.00, while the stock has an overall consensus rating of "Moderate Buy" with a target of $62.06.
• Brookfield Asset Management announced a quarterly dividend of $0.4375, yielding 2.9%, but also has a high dividend payout ratio of 124.11%.

Allianz Asset Management GmbH decreased its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 82.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,216 shares of the financial services provider's stock after selling 48,855 shares during the period. Allianz Asset Management GmbH's holdings in Brookfield Asset Management were worth $494,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new position in Brookfield Asset Management in the first quarter worth approximately $26,000. Rossby Financial LCC acquired a new position in Brookfield Asset Management in the first quarter worth approximately $28,000. NewEdge Advisors LLC increased its holdings in Brookfield Asset Management by 61.0% in 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 last quarter. Larson Financial Group LLC increased its holdings in Brookfield Asset Management by 1,079.6% in the first quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock worth $53,000 after buying an additional 1,004 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Brookfield Asset Management in the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America upgraded Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price objective on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. increased their price objective on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Scotiabank reaffirmed an "outperform" rating and set a $66.00 target price (down previously from $69.00) on shares of Brookfield Asset Management in a research report on Wednesday. National Bank Financial assumed coverage on Brookfield Asset Management in a research report on Tuesday, July 29th. They set an "outperform" rating and a $71.00 target price for the company. Finally, Piper Sandler assumed coverage on Brookfield Asset Management in a research report on Monday, June 30th. They set a "neutral" rating and a $60.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of "Moderate Buy" and a consensus price target of $62.06.

Brookfield Asset Management Stock Down 3.0%

BAM opened at $59.81 on Friday. Brookfield Asset Management Ltd. has a 1-year low of $38.18 and a 1-year high of $63.53. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $97.95 billion, a price-to-earnings ratio of 42.42, a P/E/G ratio of 2.30 and a beta of 1.44. The business has a 50 day moving average of $57.27 and a 200-day moving average of $54.85.

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

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were given a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Asset Management's dividend payout ratio (DPR) is 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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