Deutsche Bank AG Purchases 97,497 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Deutsche Bank AG grew its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 23.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 515,607 shares of the financial services provider’s stock after buying an additional 97,497 shares during the period. Deutsche Bank AG owned 0.12% of Brookfield Asset Management worth $27,941,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BAM. Colonial Trust Co SC boosted its stake in Brookfield Asset Management by 2.0% in the fourth quarter. Colonial Trust Co SC now owns 31,764 shares of the financial services provider’s stock valued at $1,721,000 after acquiring an additional 636 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Brookfield Asset Management by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 29,034 shares of the financial services provider’s stock valued at $1,574,000 after purchasing an additional 756 shares during the last quarter. Bamco Inc. NY boosted its position in shares of Brookfield Asset Management by 22.6% in the 4th quarter. Bamco Inc. NY now owns 1,348,906 shares of the financial services provider’s stock worth $73,097,000 after purchasing an additional 248,471 shares in the last quarter. Bank of America Corp DE grew its stake in Brookfield Asset Management by 12.5% during the 4th quarter. Bank of America Corp DE now owns 1,939,109 shares of the financial services provider’s stock worth $105,080,000 after buying an additional 215,670 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in Brookfield Asset Management by 22.2% during the 4th quarter. Benjamin Edwards Inc. now owns 15,540 shares of the financial services provider’s stock worth $842,000 after buying an additional 2,820 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BAM. JPMorgan Chase & Co. increased their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. BMO Capital Markets lifted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Scotiabank upped their price target on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, Bank of America raised shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.77.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $58.37 on Wednesday. The company’s fifty day moving average price is $49.91 and its 200-day moving average price is $54.13. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The firm has a market capitalization of $95.57 billion, a P/E ratio of 44.22, a PEG ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.00%. The ex-dividend date is Friday, May 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is 124.11%.

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.