Amundi Purchases 173,673 Shares of Brookfield Asset Management Ltd. $BAM

Amundi increased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 57.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 475,199 shares of the financial services provider’s stock after buying an additional 173,673 shares during the quarter. Amundi’s holdings in Brookfield Asset Management were worth $26,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC increased its position in shares of Brookfield Asset Management by 6.1% in the first quarter. LPL Financial LLC now owns 55,354 shares of the financial services provider’s stock valued at $2,682,000 after acquiring an additional 3,173 shares during the period. Vanguard Group Inc. grew its stake in shares of Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock worth $832,833,000 after purchasing an additional 302,852 shares during the last quarter. Deutsche Bank AG increased its holdings in Brookfield Asset Management by 11.3% during the 1st quarter. Deutsche Bank AG now owns 573,939 shares of the financial services provider’s stock valued at $27,807,000 after purchasing an additional 58,332 shares during the period. Citigroup Inc. increased its holdings in Brookfield Asset Management by 162.2% during the 1st quarter. Citigroup Inc. now owns 271,489 shares of the financial services provider’s stock valued at $13,140,000 after purchasing an additional 167,931 shares during the period. Finally, Virtu Financial LLC bought a new position in Brookfield Asset Management during the 1st quarter valued at approximately $261,000. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BAM. Morgan Stanley set a $62.00 price objective on Brookfield Asset Management in a research report on Monday, October 13th. Bank of America lowered Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price target for the company. in a research note on Thursday, September 4th. Keefe, Bruyette & Woods cut their price target on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a report on Monday, November 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Brookfield Asset Management in a research report on Monday. Finally, Scotiabank dropped their target price on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a research report on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.32.

Brookfield Asset Management Price Performance

Shares of BAM opened at $54.45 on Wednesday. The stock has a market cap of $89.17 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 1.98 and a beta of 1.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97. Brookfield Asset Management Ltd. has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The firm’s 50-day simple moving average is $53.88 and its two-hundred day simple moving average is $56.79.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Asset Management’s payout ratio is 109.38%.

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.