Amundi Buys 231,401 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Amundi increased its Brookfield Asset Management stake by 48.9% in the first quarter, buying 231,401 shares to reach 704,295 shares valued at approximately $31.3 million. Institutional investors and hedge funds collectively own 68.41% of BAM.
• Brookfield reported quarterly earnings of $0.43 per share, beating estimates of $0.41, on revenue of $1.43 billion. The company also pays a quarterly dividend of $0.5025 per share, equivalent to a 4.0% annualized yield.
• Analyst sentiment remains mixed, with ratings ranging from Strong Buy to Sell; MarketBeat’s consensus rating is Hold, with an average price target of $59.03 compared with the stock’s reported price of $50.69.

Amundi lifted its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 48.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704,295 shares of the financial services provider's stock after purchasing an additional 231,401 shares during the quarter. Amundi's holdings in Brookfield Asset Management were worth $31,306,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BAM. EverSource Wealth Advisors LLC boosted its holdings in Brookfield Asset Management by 86.6% in the first quarter. EverSource Wealth Advisors LLC now owns 1,709 shares of the financial services provider's stock worth $76,000 after acquiring an additional 793 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Brookfield Asset Management during the first quarter valued at approximately $255,000. The Manufacturers Life Insurance Company raised its position in shares of Brookfield Asset Management by 15.6% during the first quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider's stock worth $236,308,000 after purchasing an additional 716,892 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Brookfield Asset Management by 105.5% in the 1st quarter. Quantinno Capital Management LP now owns 281,533 shares of the financial services provider's stock worth $12,506,000 after purchasing an additional 144,512 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Brookfield Asset Management in the 1st quarter worth $725,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $50.69 on Tuesday. The company has a fifty day moving average price of $47.03 and a 200-day moving average price of $47.59. The firm has a market cap of $83.04 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 1.97 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. Brookfield Asset Management Ltd. has a 1 year low of $42.20 and a 1 year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, equities research analysts predict that Brookfield Asset Management Ltd. will post 1.76 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were issued a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, May 29th. Brookfield Asset Management's dividend payout ratio (DPR) is 130.52%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler restated a "neutral" rating and set a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. Royal Bank Of Canada reduced their price objective on shares of Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating for the company in a report on Monday, May 11th. Wall Street Zen downgraded shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Saturday, July 4th. Weiss Ratings lowered shares of Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 15th. Finally, Morgan Stanley set a $56.00 price target on Brookfield Asset Management and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Brookfield Asset Management has a consensus rating of "Hold" and a consensus target price of $59.03.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company's products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.

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