Point72 Europe London LLP Takes $5.09 Million Position in Brookfield Asset Management Ltd. $BAM

Key Points

• Point72 Europe London LLP has acquired a new stake of 105,100 shares in Brookfield Asset Management Ltd., valued at approximately $5.1 million, during the first quarter.
• Analysts have upgraded the stock's target price, with CIBC and Scotiabank setting it at $71.00 and $67.25 respectively, indicating a generally positive sentiment towards the stock.
• Brookfield Asset Management has announced a quarterly dividend of $0.4375 per share, which results in an annualized dividend of $1.75 and a yield of 2.9%.

Point72 Europe London LLP purchased a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 105,100 shares of the financial services provider's stock, valued at approximately $5,092,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock valued at $832,833,000 after buying an additional 302,852 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Brookfield Asset Management by 58.9% in the first quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider's stock worth $163,354,000 after acquiring an additional 1,246,011 shares in the last quarter. Douglass Winthrop Advisors LLC increased its holdings in shares of Brookfield Asset Management by 0.5% in the first quarter. Douglass Winthrop Advisors LLC now owns 2,672,065 shares of the financial services provider's stock worth $129,342,000 after acquiring an additional 14,498 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Brookfield Asset Management by 1.2% in the first quarter. Bank of Nova Scotia now owns 2,269,833 shares of the financial services provider's stock worth $109,913,000 after acquiring an additional 27,913 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Brookfield Asset Management by 12.5% during the fourth quarter. Bank of America Corp DE now owns 1,939,109 shares of the financial services provider's stock worth $105,080,000 after buying an additional 215,670 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock traded down $0.66 during trading on Wednesday, hitting $58.47. The stock had a trading volume of 1,296,764 shares, compared to its average volume of 1,646,100. Brookfield Asset Management Ltd. has a 1 year low of $39.19 and a 1 year high of $64.10. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The stock's 50 day moving average is $59.57 and its two-hundred day moving average is $55.30. The stock has a market cap of $95.76 billion, a price-to-earnings ratio of 39.24, a price-to-earnings-growth ratio of 2.20 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.29 billion. As a group, analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's dividend payout ratio is currently 117.45%.

Analysts Set New Price Targets

BAM has been the subject of several research analyst reports. TD Securities lifted their target price on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Wells Fargo & Company lifted their price target on Brookfield Asset Management from $55.00 to $57.00 and gave the company an "underweight" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. boosted their price objective on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $58.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 7th. Finally, Jefferies Financial Group lifted their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $63.33.

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.