M&T Bank Corp Invests $686,000 in Brookfield Asset Management Ltd. (NYSE:BAM)

M&T Bank Corp purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 20,960 shares of the financial services provider’s stock, valued at approximately $686,000.

A number of other institutional investors also recently modified their holdings of BAM. Vanguard Group Inc. increased its holdings in Brookfield Asset Management by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 44,050,716 shares of the financial services provider’s stock worth $2,491,950,000 after purchasing an additional 1,220,298 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Brookfield Asset Management by 30,651.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 31,097,454 shares of the financial services provider’s stock worth $891,564,000 after purchasing an additional 30,996,329 shares in the last quarter. FMR LLC increased its holdings in Brookfield Asset Management by 31.5% in the 1st quarter. FMR LLC now owns 10,773,503 shares of the financial services provider’s stock worth $352,893,000 after purchasing an additional 2,582,493 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Brookfield Asset Management by 166.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider’s stock worth $398,883,000 after purchasing an additional 4,402,115 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Brookfield Asset Management by 1.1% in the 1st quarter. Invesco Ltd. now owns 6,357,751 shares of the financial services provider’s stock worth $359,657,000 after purchasing an additional 70,087 shares in the last quarter. Institutional investors and hedge funds own 61.92% of the company’s stock.

Analysts Set New Price Targets

BAM has been the subject of a number of recent research reports. StockNews.com initiated coverage on Brookfield Asset Management in a report on Thursday, August 17th. They issued a “hold” rating for the company. Scotiabank initiated coverage on Brookfield Asset Management in a research note on Thursday, July 13th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft increased their price target on Brookfield Asset Management from $34.00 to $35.00 in a research note on Thursday, August 10th. TD Securities increased their price target on Brookfield Asset Management from $47.00 to $48.00 and gave the company an “action list buy” rating in a research note on Thursday, August 10th. Finally, BMO Capital Markets increased their price target on Brookfield Asset Management from $33.00 to $34.00 and gave the company a “market perform” rating in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $34.89 on Friday. Brookfield Asset Management Ltd. has a one year low of $26.76 and a one year high of $36.50. The stock’s 50-day moving average is $33.23 and its 200 day moving average is $32.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, August 9th. The financial services provider reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $985.00 million for the quarter. Analysts expect that Brookfield Asset Management Ltd. will post 1.32 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.28 annualized dividend and a dividend yield of 3.67%.

About Brookfield Asset Management

Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.