Allianz SE Invests $401,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

Allianz SE acquired a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,406 shares of the financial services provider's stock, valued at approximately $401,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BAM. Brown Brothers Harriman & Co. boosted its holdings in shares of Brookfield Asset Management by 9.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 8,839 shares of the financial services provider's stock worth $479,000 after purchasing an additional 750 shares during the period. Norges Bank purchased a new stake in Brookfield Asset Management in the 4th quarter worth approximately $287,361,000. Blair William & Co. IL boosted its stake in shares of Brookfield Asset Management by 39.9% during the 4th quarter. Blair William & Co. IL now owns 27,037 shares of the financial services provider's stock valued at $1,465,000 after buying an additional 7,716 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Brookfield Asset Management by 2.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,550,083 shares of the financial services provider's stock valued at $83,999,000 after acquiring an additional 30,892 shares in the last quarter. Finally, Korea Investment CORP increased its stake in shares of Brookfield Asset Management by 77.9% in the fourth quarter. Korea Investment CORP now owns 228,895 shares of the financial services provider's stock worth $12,408,000 after acquiring an additional 100,233 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

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Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded down $2.85 during midday trading on Friday, hitting $44.21. The company's stock had a trading volume of 2,754,013 shares, compared to its average volume of 1,386,911. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The stock has a market capitalization of $72.39 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 1.92 and a beta of 1.62. The stock's 50 day simple moving average is $53.89 and its 200 day simple moving average is $53.64.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, February 28th. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.96%. Brookfield Asset Management's payout ratio is currently 132.58%.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of recent research reports. Bank of America lowered their target price on Brookfield Asset Management from $69.00 to $65.00 and set a "neutral" rating on the stock in a research note on Friday. Keefe, Bruyette & Woods dropped their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a report on Monday, January 13th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. TD Securities boosted their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Finally, BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a "market perform" rating in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of "Moderate Buy" and a consensus price target of $58.04.

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.