Amundi Acquires 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 lifted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 36.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 301,526 shares of the financial services provider's stock after acquiring 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 quarter.

A number of other institutional investors have also recently made changes to their positions in BAM. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Brookfield Asset Management by 975.9% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider's stock valued at $85,463,000 after acquiring an additional 1,601,155 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Brookfield Asset Management by 58.9% in the first quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider's stock worth $163,354,000 after purchasing an additional 1,246,011 shares during the last quarter. AGF Management Ltd. lifted its stake in Brookfield Asset Management by 60.5% in the first quarter. AGF Management Ltd. now owns 1,603,608 shares of the financial services provider's stock worth $77,742,000 after purchasing an additional 604,395 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in Brookfield Asset Management in the first quarter worth about $27,859,000. Finally, 1832 Asset Management L.P. lifted its stake in Brookfield Asset Management by 96.6% in the first quarter. 1832 Asset Management L.P. now owns 981,961 shares of the financial services provider's stock worth $47,576,000 after purchasing an additional 482,509 shares during the last quarter. Institutional investors own 68.41% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $58.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 7th. CIBC raised their price objective on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wells Fargo & Company raised their price objective on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research note on Friday, July 11th. National Bankshares set a $71.00 price objective on shares of Brookfield Asset Management and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Finally, 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 for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $63.52.

Brookfield Asset Management Trading Up 2.3%

Shares of NYSE:BAM traded up $1.27 during trading on Monday, reaching $57.84. 2,186,019 shares of the company were exchanged, compared to its average volume of 1,937,486. The firm has a market capitalization of $94.74 billion, a PE ratio of 38.82, a P/E/G ratio of 2.07 and a beta of 1.44. The business's fifty day simple moving average is $59.88 and its 200-day simple moving average is $55.21. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25.

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

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid 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 yield of 3.0%. Brookfield Asset Management's payout ratio is 117.45%.

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.