Citigroup Inc. Acquires 167,931 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Citigroup Inc. raised its holdings in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 162.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 271,489 shares of the financial services provider’s stock after acquiring an additional 167,931 shares during the period. Citigroup Inc.’s holdings in Brookfield Asset Management were worth $13,140,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rossby Financial LCC bought a new position in Brookfield Asset Management in the first quarter valued at about $28,000. ST Germain D J Co. Inc. bought a new position in Brookfield Asset Management in the first quarter valued at about $26,000. NewEdge Advisors LLC grew its position in Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 325 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Brookfield Asset Management in the fourth quarter valued at about $54,000. Finally, Larson Financial Group LLC grew its position in Brookfield Asset Management by 1,079.6% in the first quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,004 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $62.18 on Friday. The stock’s 50 day moving average is $58.25 and its 200 day moving average is $55.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.31. The firm has a market cap of $100.30 billion, a P/E ratio of 41.73, a P/E/G ratio of 2.26 and a beta of 1.44. Brookfield Asset Management Ltd. has a one year low of $39.19 and a one year high of $64.10.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management’s payout ratio is currently 117.45%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. TD Securities lifted their target price on Brookfield Asset Management from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Wells Fargo & Company boosted their price target on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an “underweight” rating in a report on Friday, July 11th. Piper Sandler assumed coverage on Brookfield Asset Management in a report on Monday, June 30th. They set a “neutral” rating and a $60.00 price target on the stock. Royal Bank Of Canada assumed coverage on Brookfield Asset Management in a report on Wednesday, June 18th. They set an “outperform” rating and a $72.00 price target on the stock. Finally, Scotiabank boosted their price target on Brookfield Asset Management from $66.00 to $67.25 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $63.33.

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.