Assenagon Asset Management S.A. Grows Stock Holdings in Brookfield Asset Management Ltd. $BAM

Key Points

• Assenagon Asset Management sharply increased its stake in Brookfield Asset Management, boosting holdings by 689% to 81,075 shares worth about $3.6 million in the first quarter.
• Brookfield Asset Management reported Q1 EPS of $0.43, beating estimates of $0.41, though revenue of $1.32 billion came in below expectations.
• The company declared a quarterly dividend of $0.5025 per share, implying an annualized yield of 4.6%, even as the payout ratio stood at 130.52%.

Assenagon Asset Management S.A. grew its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 689.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,075 shares of the financial services provider's stock after buying an additional 70,799 shares during the period. Assenagon Asset Management S.A.'s holdings in Brookfield Asset Management were worth $3,593,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT increased its position in shares of Brookfield Asset Management by 241.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider's stock worth $26,000 after purchasing an additional 345 shares in the last quarter. LOM Asset Management Ltd acquired a new stake in shares of Brookfield Asset Management in the 4th quarter worth $31,000. eCIO Inc. acquired a new stake in shares of Brookfield Asset Management in the 4th quarter worth $42,000. Cary Street Partners Financial LLC grew its stake in Brookfield Asset Management by 227.5% during the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider's stock worth $46,000 after buying an additional 562 shares during the last quarter. Finally, Allworth Financial LP grew its stake in Brookfield Asset Management by 47.8% during the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider's stock worth $54,000 after buying an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BAM. The Goldman Sachs Group decreased their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. Morgan Stanley dropped their target price on shares of Brookfield Asset Management from $63.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 21st. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a research note on Monday, May 11th. Weiss Ratings cut shares of Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 15th. Finally, Piper Sandler reiterated a "neutral" rating and set a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $60.21.

Brookfield Asset Management Stock Down 1.3%

NYSE:BAM opened at $44.03 on Tuesday. The firm has a market capitalization of $72.13 billion, a P/E ratio of 28.59, a PEG ratio of 1.79 and a beta of 1.26. Brookfield Asset Management Ltd. has a 1-year low of $42.20 and a 1-year high of $64.10. The company's fifty day moving average price is $47.58 and its 200-day moving average price is $48.70. 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 (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) 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 $1.32 billion during the quarter, compared to the consensus estimate of $1.43 billion. As a group, equities research analysts anticipate that Brookfield Asset Management Ltd. will post 1.75 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be issued a $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management's payout ratio is 130.52%.

Brookfield Asset Management 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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