Man Group plc Increases Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Man Group plc increased its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 15.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,199 shares of the financial services provider's stock after acquiring an additional 4,422 shares during the period. Man Group plc's holdings in Brookfield Asset Management were worth $1,799,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BAM. Assenagon Asset Management S.A. bought a new stake in Brookfield Asset Management during the fourth quarter worth about $215,000. Atomi Financial Group Inc. boosted its stake in Brookfield Asset Management by 53.5% during the fourth quarter. Atomi Financial Group Inc. now owns 9,411 shares of the financial services provider's stock worth $510,000 after acquiring an additional 3,279 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Brookfield Asset Management by 7.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 212,807 shares of the financial services provider's stock worth $11,532,000 after acquiring an additional 15,641 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Brookfield Asset Management during the fourth quarter worth about $195,000. Finally, Grimes & Company Inc. bought a new stake in Brookfield Asset Management during the fourth quarter worth about $203,000. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock traded down $1.18 during midday trading on Wednesday, reaching $56.38. 1,086,370 shares of the company traded hands, compared to its average volume of 1,938,848. The firm has a market capitalization of $90.92 billion, a price-to-earnings ratio of 42.77, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56. The business has a 50 day moving average of $51.98 and a two-hundred day moving average of $54.37. Brookfield Asset Management Ltd. has a 12 month low of $37.29 and a 12 month high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. As a group, equities analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

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 given a $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 3.10%. Brookfield Asset Management's payout ratio is presently 124.11%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BAM shares. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. TD Securities increased their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Wells Fargo & Company increased their price target on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the company an "underweight" rating in a report on Friday, May 23rd. CIBC increased their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Hsbc Global Res upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.15.

About Brookfield Asset Management

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.