Amundi Buys 80,580 Shares of Brookfield Asset Management Ltd. $BAM

Key Points

• Amundi increased its stake in Brookfield Asset Management by 36.5%, purchasing an additional 80,580 shares, bringing its total ownership to approximately $14.19 million.
• Brookfield's recent earnings report indicated an EPS of $0.38, missing analysts' expectations, with revenue of $1.11 billion versus the projected $1.29 billion.
• The company announced a quarterly dividend of $0.4375 per share, yielding approximately 3.1%, with a payout ratio currently at 117.45%.

Amundi increased its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 36.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,526 shares of the financial services provider's stock after purchasing an additional 80,580 shares during the period. Amundi's holdings in Brookfield Asset Management were worth $14,190,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BAM. Vanguard Group Inc. lifted its stake in Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock valued at $832,833,000 after acquiring an additional 302,852 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Brookfield Asset Management by 58.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider's stock valued at $163,354,000 after acquiring an additional 1,246,011 shares during the period. Douglass Winthrop Advisors LLC lifted its stake in Brookfield Asset Management by 0.5% during the 1st quarter. Douglass Winthrop Advisors LLC now owns 2,672,065 shares of the financial services provider's stock valued at $129,342,000 after acquiring an additional 14,498 shares during the period. Bank of Nova Scotia lifted its stake in Brookfield Asset Management by 1.2% during the 1st quarter. Bank of Nova Scotia now owns 2,269,833 shares of the financial services provider's stock valued at $109,913,000 after acquiring an additional 27,913 shares during the period. Finally, Madison Asset Management LLC lifted its stake in Brookfield Asset Management by 9.5% during the 1st quarter. Madison Asset Management LLC now owns 1,901,985 shares of the financial services provider's stock valued at $92,151,000 after acquiring an additional 165,098 shares during the period. Institutional investors own 68.41% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Morgan Stanley increased their price objective on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Scotiabank increased their price objective on shares of Brookfield Asset Management from $66.00 to $67.25 and gave the stock a "sector outperform" rating in a research note on Thursday, August 7th. National Bank Financial assumed coverage on shares of Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price objective on the stock. Finally, TD Securities increased 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 note on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.52.

Brookfield Asset Management Price Performance

Shares of BAM stock traded down $0.05 on Friday, reaching $56.68. The company's stock had a trading volume of 1,694,761 shares, compared to its average volume of 1,898,762. The stock's fifty day simple moving average is $59.84 and its 200-day simple moving average is $55.22. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $92.83 billion, a price-to-earnings ratio of 38.04, a price-to-earnings-growth ratio of 2.07 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.29 billion. Analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.1%. Brookfield Asset Management's dividend payout ratio (DPR) is 117.45%.

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.