Royal London Asset Management Ltd. Acquires 2,621 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Royal London Asset Management Ltd. lifted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 161,565 shares of the financial services provider’s stock after purchasing an additional 2,621 shares during the period. Royal London Asset Management Ltd.’s holdings in Brookfield Asset Management were worth $6,490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BAM. Vanguard Personalized Indexing Management LLC raised its stake in Brookfield Asset Management by 20.9% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 10,829 shares of the financial services provider’s stock worth $361,000 after acquiring an additional 1,872 shares during the period. Pathstone Family Office LLC bought a new stake in Brookfield Asset Management during the 3rd quarter worth approximately $572,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in Brookfield Asset Management by 39.6% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 500 shares during the period. UBS Group AG grew its holdings in Brookfield Asset Management by 0.5% during the 3rd quarter. UBS Group AG now owns 175,004 shares of the financial services provider’s stock valued at $5,835,000 after buying an additional 893 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in Brookfield Asset Management by 3.6% during the 3rd quarter. Citigroup Inc. now owns 22,626 shares of the financial services provider’s stock valued at $757,000 after buying an additional 788 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BAM. Scotiabank cut their price objective on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a report on Thursday, May 9th. JPMorgan Chase & Co. began coverage on shares of Brookfield Asset Management in a report on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.14.

Brookfield Asset Management Stock Down 0.6 %

BAM traded down $0.24 during trading on Friday, reaching $38.01. The company had a trading volume of 1,053,534 shares, compared to its average volume of 1,267,022. The stock has a market cap of $16.81 billion, a P/E ratio of 35.19, a PEG ratio of 1.73 and a beta of 1.67. The business has a 50 day simple moving average of $39.35 and a 200-day simple moving average of $39.62. Brookfield Asset Management Ltd. has a 52 week low of $28.35 and a 52 week high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $884.00 million during the quarter. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. As a group, equities research analysts expect that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.38 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.52 dividend on an annualized basis and a yield of 4.00%. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

Brookfield Asset Management Company 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.