Mediolanum International Funds Ltd Purchases 14,722 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Mediolanum International Funds Ltd increased its stake in Brookfield Asset Management by 167.5%, acquiring an additional 14,722 shares, bringing its total holdings to 23,509 shares valued at $1,143,000.
• Analysts have mixed ratings for Brookfield Asset Management, with a consensus target price of $61.63 and 11 analysts issuing a buy rating, while some firms recently upgraded their price targets significantly.
• The company announced a quarterly dividend of $0.4375, resulting in an annualized dividend yield of 2.79%, despite a high dividend payout ratio of 124.11%.

Mediolanum International Funds Ltd lifted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 167.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,509 shares of the financial services provider's stock after buying an additional 14,722 shares during the period. Mediolanum International Funds Ltd's holdings in Brookfield Asset Management were worth $1,143,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BAM. Cetera Investment Advisers increased its holdings in Brookfield Asset Management by 37.9% during the first quarter. Cetera Investment Advisers now owns 40,042 shares of the financial services provider's stock worth $1,938,000 after buying an additional 11,008 shares during the last quarter. Madison Asset Management LLC increased its stake in shares of 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 worth $92,151,000 after purchasing an additional 165,098 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Brookfield Asset Management during the 1st quarter worth approximately $205,000. Morse Asset Management Inc raised its holdings in shares of Brookfield Asset Management by 26.5% in the 1st quarter. Morse Asset Management Inc now owns 4,769 shares of the financial services provider's stock worth $231,000 after purchasing an additional 999 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its stake in Brookfield Asset Management by 41.9% in the first quarter. Kestra Private Wealth Services LLC now owns 6,798 shares of the financial services provider's stock valued at $329,000 after purchasing an additional 2,006 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Price Performance

Shares of BAM stock traded down $2.00 on Friday, reaching $59.67. The company's stock had a trading volume of 582,524 shares, compared to its average volume of 2,099,989. The company has a market capitalization of $97.71 billion, a P/E ratio of 42.39, a PEG ratio of 2.39 and a beta of 1.43. Brookfield Asset Management Ltd. has a 12-month low of $38.18 and a 12-month high of $63.53. The stock's 50 day simple moving average is $57.20 and its 200-day simple moving average is $54.80. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07.

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

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 2.9%. Brookfield Asset Management's payout ratio is presently 124.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BAM shares. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Morgan Stanley boosted their price objective on Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. National Bankshares set a $71.00 price objective on shares of Brookfield Asset Management and gave the company an "outperform" rating in a report on Tuesday. Bank of America upgraded shares of 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. Finally, Jefferies Financial Group lowered their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $62.06.

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.