NBC Securities Inc. Increases Position in Brookfield Asset Management Ltd. (NYSE:BAM)

NBC Securities Inc. lifted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 104,200.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,258 shares of the financial services provider's stock after buying an additional 6,252 shares during the period. NBC Securities Inc.'s holdings in Brookfield Asset Management were worth $303,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. RE Dickinson Investment Advisors LLC raised its stake in shares of Brookfield Asset Management by 3.2% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider's stock worth $377,000 after buying an additional 215 shares in the last quarter. Gold Investment Management Ltd. increased its stake in Brookfield Asset Management by 0.5% in the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider's stock valued at $2,271,000 after purchasing an additional 219 shares in the last quarter. NewEdge Advisors LLC increased its stake in Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 325 shares in the last quarter. Lindbrook Capital LLC increased its stake in Brookfield Asset Management by 20.5% in the 4th quarter. Lindbrook Capital LLC now owns 2,174 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 370 shares in the last quarter. Finally, Truvestments Capital LLC increased its stake in Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 419 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Scotiabank increased their target price on Brookfield Asset Management from $58.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Morgan Stanley increased their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a report on Friday, May 16th. JPMorgan Chase & Co. increased their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Bank of America upgraded Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a report on Thursday, April 10th. Finally, HSBC upgraded Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $59.15.

Brookfield Asset Management Trading Down 4.2%

NYSE:BAM traded down $2.44 during mid-day trading on Monday, hitting $55.09. The company had a trading volume of 6,100,141 shares, compared to its average volume of 1,461,575. The business has a fifty day simple moving average of $53.09 and a 200-day simple moving average of $54.38. 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 $88.83 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 1.92 and a beta of 1.51.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. As a group, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management's payout ratio is 124.11%.

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.