AIA Group Ltd Reduces Stake in Brookfield Asset Management Ltd. $BAM

AIA Group Ltd lessened its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 34.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,263 shares of the financial services provider’s stock after selling 21,372 shares during the quarter. AIA Group Ltd’s holdings in Brookfield Asset Management were worth $1,790,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Zions Bancorporation National Association UT boosted its stake in shares of Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 345 shares during the last quarter. LOM Asset Management Ltd acquired a new stake in Brookfield Asset Management during the fourth quarter worth about $31,000. eCIO Inc. purchased a new position in Brookfield Asset Management in the fourth quarter valued at approximately $42,000. Allworth Financial LP lifted its holdings in shares of Brookfield Asset Management by 47.8% during the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 333 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Brookfield Asset Management by 709.8% during the fourth quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 937 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $48.36 on Monday. The stock’s fifty day simple moving average is $47.20 and its 200 day simple moving average is $48.05. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $79.22 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 1.99 and a beta of 1.29. Brookfield Asset Management Ltd. has a 52-week low of $42.20 and a 52-week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.43 billion. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.73 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were given a dividend of $0.5025 per share. The ex-dividend date was Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 130.52%.

Wall Street Analyst Weigh In

BAM has been the subject of several analyst reports. Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a research note on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Weiss Ratings lowered shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. Piper Sandler reiterated a “neutral” rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. Finally, The Goldman Sachs Group cut their price target on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.41.

Brookfield Asset Management Company Profile

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.