The Manufacturers Life Insurance Company Has $236.31 Million Holdings in Brookfield Asset Management Ltd. $BAM

Key Points

• The Manufacturers Life Insurance Company increased its Brookfield Asset Management stake by 15.6% in the first quarter, holding 5.32 million shares worth approximately $236.3 million. Institutional investors and hedge funds own 68.41% of the stock.
• Analyst sentiment is mixed, with the stock carrying an average rating of “Hold” and an average price target of $59.03. Recent targets range from $49 to $60, while one analyst downgraded the shares to “Sell.”
• Brookfield Asset Management reported quarterly EPS of $0.43, beating estimates by $0.02, and announced a quarterly dividend of $0.5025 per share, representing a 4.2% annualized yield.

The Manufacturers Life Insurance Company grew its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,319,506 shares of the financial services provider's stock after acquiring an additional 716,892 shares during the period. The Manufacturers Life Insurance Company owned 0.32% of Brookfield Asset Management worth $236,308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of BAM. Zions Bancorporation National Association UT increased its holdings in shares of Brookfield Asset Management by 241.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 345 shares in the last quarter. LOM Asset Management Ltd bought a new position in Brookfield Asset Management in the 4th quarter valued at $31,000. eCIO Inc. bought a new position in Brookfield Asset Management in the 4th quarter valued at $42,000. Allworth Financial LP increased its stake in shares of Brookfield Asset Management by 47.8% in the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider's stock valued at $54,000 after buying an additional 333 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Brookfield Asset Management by 709.8% during the fourth quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider's stock worth $56,000 after acquiring an additional 937 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Piper Sandler reissued a "neutral" rating and set a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. Morgan Stanley set a $56.00 target price on shares of Brookfield Asset Management and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. dropped their price target on shares of Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating for the company in a research note on Wednesday, May 6th. The Goldman Sachs Group reduced their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. Finally, Wall Street Zen cut shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $59.03.

Brookfield Asset Management Stock Up 2.7%

Brookfield Asset Management stock opened at $47.59 on Tuesday. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $64.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market capitalization of $77.96 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 1.89 and a beta of 1.29. The company's 50 day simple moving average is $46.98 and its 200 day simple moving average is $47.77.

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 for the quarter, topping the consensus estimate 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 $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.76 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were issued a dividend of $0.5025 per share. The ex-dividend date was Friday, May 29th. This represents a $2.01 annualized dividend and a yield of 4.2%. Brookfield Asset Management's payout ratio is currently 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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