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

Assenagon Asset Management S.A. raised its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 157.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Brookfield Asset Management by 2.3% during the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider's stock worth $1,064,983,000 after acquiring an additional 447,642 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Brookfield Asset Management by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider's stock worth $916,676,000 after acquiring an additional 263,660 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after acquiring an additional 1,359,126 shares in the last quarter. Capital International Investors boosted its stake in shares of Brookfield Asset Management by 0.7% during the 4th quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider's stock worth $873,354,000 after acquiring an additional 116,008 shares in the last quarter. Finally, FIL Ltd boosted its stake in shares of Brookfield Asset Management by 3.9% during the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider's stock worth $833,581,000 after acquiring an additional 574,978 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Down 0.6%

NYSE BAM traded down $0.30 during trading on Monday, hitting $54.05. 1,792,369 shares of the company traded hands, compared to its average volume of 1,461,767. Brookfield Asset Management Ltd. has a 12 month low of $37.40 and a 12 month high of $62.61. The business has a fifty day simple moving average of $54.81 and a 200 day simple moving average of $54.23. 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 company has a market capitalization of $87.16 billion, a P/E ratio of 38.33, a PEG ratio of 1.97 and a beta of 1.51.

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 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 for the quarter, compared to analyst estimates of $1.29 billion. As a group, sell-side analysts predict 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, June 30th. Stockholders of record on Friday, May 30th will be paid a $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.24%. Brookfield Asset Management's payout ratio is presently 124.11%.

Analyst Ratings Changes

Several research firms have recently weighed in on BAM. Morgan Stanley raised their price objective on 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. JPMorgan Chase & Co. increased their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Jefferies Financial Group decreased their target price on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Scotiabank raised their target price on Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, 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 report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of "Moderate Buy" and an average target price of $59.46.

Brookfield Asset Management 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.