M&T Bank Corp Boosts Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

M&T Bank Corp raised its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 53.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,473 shares of the financial services provider's stock after buying an additional 12,996 shares during the period. M&T Bank Corp's holdings in Brookfield Asset Management were worth $1,815,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BAM. Bank of Montreal Can increased its stake in shares of Brookfield Asset Management by 3.7% in the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider's stock worth $518,655,000 after purchasing an additional 339,072 shares in the last quarter. TD Asset Management Inc. increased its position in Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock worth $903,323,000 after buying an additional 1,359,126 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Brookfield Asset Management by 30.5% in the fourth quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider's stock worth $4,033,000 after buying an additional 17,369 shares during the period. Capital A Wealth Management LLC purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at about $412,000. Finally, Schroder Investment Management Group purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at about $8,927,000. 68.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on BAM. Bank of America upgraded shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a research note on Thursday, April 10th. Morgan Stanley lifted their target price on shares of 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. JPMorgan Chase & Co. upped their target price on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Royal Bank Of Canada assumed coverage on Brookfield Asset Management in a report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price target on the stock. Finally, Jefferies Financial Group dropped their price objective on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.64.

Brookfield Asset Management Trading Down 0.8%

Shares of BAM opened at $56.13 on Friday. The stock has a market capitalization of $91.90 billion, a PE ratio of 39.80, a P/E/G ratio of 2.13 and a beta of 1.43. The company's fifty day moving average is $56.21 and its 200 day moving average is $54.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31. Brookfield Asset Management Ltd. has a fifty-two week low of $38.18 and a fifty-two 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 earnings per share for the quarter, hitting analysts' consensus estimates of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. Sell-side analysts expect 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 disclosed 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 of this dividend was Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a yield of 3.12%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 124.11%.

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.

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