Brookfield Asset Management Ltd. $BAM Position Boosted by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 175.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,364 shares of the financial services provider’s stock after purchasing an additional 209,870 shares during the quarter. SG Americas Securities LLC’s holdings in Brookfield Asset Management were worth $14,640,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Brookfield Asset Management by 72.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock worth $222,161,000 after purchasing an additional 1,642,375 shares during the last quarter. Korea Investment CORP boosted its holdings in Brookfield Asset Management by 21.3% during the third quarter. Korea Investment CORP now owns 284,049 shares of the financial services provider’s stock worth $16,168,000 after buying an additional 49,917 shares in the last quarter. Citigroup Inc. boosted its holdings in Brookfield Asset Management by 71.6% during the third quarter. Citigroup Inc. now owns 208,042 shares of the financial services provider’s stock worth $11,842,000 after buying an additional 86,829 shares in the last quarter. Vanguard Group Inc. grew its position in Brookfield Asset Management by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock worth $928,414,000 after buying an additional 297,790 shares during the last quarter. Finally, Cooke & Bieler LP increased its holdings in shares of Brookfield Asset Management by 48.6% in the fourth quarter. Cooke & Bieler LP now owns 2,001,903 shares of the financial services provider’s stock valued at $104,880,000 after buying an additional 655,009 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BAM. Morgan Stanley decreased their price target on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. The Goldman Sachs Group decreased their target price on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Scotiabank reissued an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. Zacks Research lowered shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Finally, Piper Sandler restated a “neutral” rating and issued a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and an average price target of $60.21.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $44.59 on Friday. The stock has a market capitalization of $73.04 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 1.80 and a beta of 1.26. The firm has a fifty day simple moving average of $47.75 and a 200-day simple moving average of $48.83. Brookfield Asset Management Ltd. has a 1-year low of $42.20 and a 1-year high of $64.10. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. On average, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be given a dividend of $0.5025 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.5%. Brookfield Asset Management’s dividend payout ratio is currently 130.52%.

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.