Assenagon Asset Management S.A. Purchases Shares of 3,958 Brookfield Asset Management Ltd. (NYSE:BAM)

Assenagon Asset Management S.A. acquired a new position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,958 shares of the financial services provider’s stock, valued at approximately $215,000.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in Brookfield Asset Management by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after buying an additional 168,170 shares in the last quarter. Avior Wealth Management LLC raised its position in Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 10,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Brookfield Asset Management by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock worth $39,516,000 after purchasing an additional 45,670 shares during the period. LGT Capital Partners LTD. lifted its stake in Brookfield Asset Management by 11.5% during the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock worth $25,273,000 after purchasing an additional 55,000 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Brookfield Asset Management by 10.3% during the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Performance

BAM stock opened at $59.88 on Friday. The company has a market cap of $26.54 billion, a P/E ratio of 52.99, a price-to-earnings-growth ratio of 2.15 and a beta of 1.45. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $60.11. The stock’s 50 day simple moving average is $55.91 and its 200 day simple moving average is $49.25.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the business earned $0.35 EPS. Equities analysts predict that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.54%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BAM. Keefe, Bruyette & Woods lowered their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group upped 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 note on Tuesday, November 19th. TD Securities lifted their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. UBS Group started coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. Finally, StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average price target of $54.38.

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.