Assenagon Asset Management S.A. Acquires 6,225 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Assenagon Asset Management S.A. lifted its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 157.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,183 shares of the financial services provider's stock after purchasing an additional 6,225 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Brookfield Asset Management were worth $493,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BAM. Norges Bank bought a new position in Brookfield Asset Management during the 4th quarter worth approximately $287,361,000. William Blair Investment Management LLC bought a new position in Brookfield Asset Management in the fourth quarter valued at approximately $204,169,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Brookfield Asset Management by 103.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock valued at $216,507,000 after purchasing an additional 2,031,995 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Brookfield Asset Management in the fourth quarter valued at approximately $94,122,000. Finally, TD Asset Management Inc. grew its position in shares of Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after acquiring an additional 1,359,126 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BAM shares. Wells Fargo & Company boosted their target price on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the company an "underweight" rating in a research report on Friday, May 23rd. TD Securities boosted their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Bank of America raised Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price for the company in a research note on Thursday, April 10th. Royal Bank Of Canada assumed coverage on Brookfield Asset Management in a research note on Wednesday. They set an "outperform" rating and a $72.00 target price for the company. Finally, Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.46.

Brookfield Asset Management Price Performance

BAM stock opened at $54.60 on Friday. The business has a fifty day moving average of $54.67 and a two-hundred day moving average of $54.30. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07. The stock has a market cap of $88.04 billion, a price-to-earnings ratio of 38.72, a price-to-earnings-growth ratio of 1.98 and a beta of 1.51. Brookfield Asset Management Ltd. has a 52-week low of $37.33 and a 52-week high of $62.61.

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

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 3.21%. Brookfield Asset Management's dividend payout ratio (DPR) 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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