Amundi Increases Stock Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Amundi boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,946 shares of the financial services provider's stock after acquiring an additional 31,123 shares during the period. Amundi's holdings in Brookfield Asset Management were worth $12,309,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. RPg Family Wealth Advisory LLC acquired a new position in Brookfield Asset Management during the third quarter worth $27,000. Versant Capital Management Inc boosted its position in shares of Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 771 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 329 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in Brookfield Asset Management by 35.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider's stock worth $66,000 after purchasing an additional 319 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of Brookfield Asset Management by 170.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider's stock valued at $76,000 after buying an additional 887 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group increased their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Wells Fargo & Company cut their price target on shares of Brookfield Asset Management from $55.00 to $54.00 and set an "underweight" rating on the stock in a research note on Thursday, February 13th. BMO Capital Markets upped their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research note on Thursday, February 13th. Finally, Scotiabank decreased their price target on shares of Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has an average rating of "Hold" and an average price target of $56.71.

Brookfield Asset Management Stock Up 1.2 %

BAM traded up $0.57 on Tuesday, reaching $48.51. The company's stock had a trading volume of 1,449,799 shares, compared to its average volume of 1,298,975. 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 50 day moving average of $55.59 and a two-hundred day moving average of $53.12. The company has a market capitalization of $21.50 billion, a price-to-earnings ratio of 36.75, a P/E/G ratio of 1.92 and a beta of 1.50.

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

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.61%. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's payout ratio is 132.58%.

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.