SG Americas Securities LLC Grows Stock Holdings in Brookfield Asset Management Ltd. $BAM

Key Points

• SG Americas Securities LLC increased its stake in Brookfield Asset Management by 175.6% in the first quarter, buying an additional 209,870 shares and lifting its position to 329,364 shares worth about $14.64 million.
• Brookfield Asset Management recently reported quarterly EPS of $0.43, beating analyst expectations, though revenue of $1.32 billion came in below estimates.
• The company declared a quarterly dividend of $0.5025 per share, equal to an annualized yield of about 4.5%; however, analysts currently rate the stock a consensus “Hold” with a target price of $60.21.

SG Americas Securities LLC raised its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 175.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 329,364 shares of the financial services provider's stock after acquiring an additional 209,870 shares during the period. SG Americas Securities LLC's holdings in Brookfield Asset Management were worth $14,640,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Focus Financial Network Inc. boosted its stake in Brookfield Asset Management by 4.6% in the 4th quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider's stock worth $232,000 after buying an additional 194 shares during the last quarter. Crescent Grove Advisors LLC increased its stake in shares of Brookfield Asset Management by 4.3% during the 4th quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider's stock valued at $251,000 after acquiring an additional 200 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Brookfield Asset Management by 3.6% during the 4th quarter. Kestra Advisory Services LLC now owns 6,301 shares of the financial services provider's stock worth $330,000 after acquiring an additional 218 shares during the period. Foundations Investment Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 1.3% during the 4th quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider's stock worth $899,000 after acquiring an additional 226 shares during the period. Finally, Kraematon Investment Advisors Inc. boosted its position in shares of Brookfield Asset Management by 2.0% in the fourth quarter. Kraematon Investment Advisors Inc. now owns 12,073 shares of the financial services provider's stock worth $632,000 after acquiring an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $44.59 on Friday. The business's 50-day simple moving average is $47.75 and its 200 day simple moving average is $48.83. The company has a market cap of $73.04 billion, a P/E ratio of 28.95, a PEG ratio of 1.80 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. Brookfield Asset Management Ltd. has a one year low of $42.20 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.75 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BAM shares. Piper Sandler reaffirmed a "neutral" rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. The Goldman Sachs Group cut their price objective on Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. JPMorgan Chase & Co. reduced their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 6th. Zacks Research cut Brookfield Asset Management from a "strong-buy" rating to a "hold" rating in a report on Friday, March 20th. Finally, Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a research report on Monday, May 11th. One equities research 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 assigned a Sell rating to the company's stock. According to MarketBeat, Brookfield Asset Management currently has an average rating of "Hold" and a consensus price target of $60.21.

About Brookfield Asset Management

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.

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