AIA Group Ltd Purchases 18,603 Shares of Brookfield Asset Management Ltd. $BAM

AIA Group Ltd increased its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 29.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,071 shares of the financial services provider’s stock after purchasing an additional 18,603 shares during the period. AIA Group Ltd’s holdings in Brookfield Asset Management were worth $4,616,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. PDS Planning Inc lifted its stake in Brookfield Asset Management by 4.8% in the third quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 184 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Brookfield Asset Management by 1.4% in the third quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock worth $754,000 after buying an additional 187 shares during the period. Yousif Capital Management LLC lifted its stake in shares of Brookfield Asset Management by 2.1% during the 3rd quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider’s stock worth $627,000 after acquiring an additional 226 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Brookfield Asset Management by 38.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 233 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its holdings in Brookfield Asset Management by 3.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,578 shares of the financial services provider’s stock valued at $431,000 after acquiring an additional 238 shares during the period. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $43.48 on Friday. Brookfield Asset Management Ltd. has a twelve month low of $41.78 and a twelve month high of $64.10. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $49.35 and a two-hundred day simple moving average of $52.92. The stock has a market capitalization of $71.21 billion, a price-to-earnings ratio of 28.60, a P/E/G ratio of 1.56 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%.The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. On average, analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a dividend of $0.5025 per share. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 annualized dividend and a yield of 4.6%. Brookfield Asset Management’s dividend payout ratio is 132.24%.

Wall Street Analyst Weigh In

BAM has been the topic of several research analyst reports. UBS Group set a $52.00 price objective on Brookfield Asset Management in a research report on Friday, February 20th. Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research note on Monday, December 15th. Morgan Stanley set a $63.00 price target on shares of Brookfield Asset Management in a report on Tuesday, February 17th. Scotiabank set a $64.00 price target on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Finally, Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.65.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.