SG Americas Securities LLC Invests $4.77 Million in Brookfield Asset Management Ltd. (NYSE:BAM)

SG Americas Securities LLC bought a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 96,865 shares of the financial services provider's stock, valued at approximately $4,773,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ST Germain D J Co. Inc. purchased a new position in shares of Brookfield Asset Management during the first quarter valued at approximately $26,000. Truvestments Capital LLC lifted its stake in shares of Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after purchasing an additional 419 shares during the period. Mountain Hill Investment Partners Corp. purchased a new position in shares of Brookfield Asset Management during the 4th quarter worth $32,000. NewEdge Advisors LLC lifted its stake in shares of Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after purchasing an additional 325 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in Brookfield Asset Management during the fourth quarter worth about $54,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America upgraded shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price objective on the stock in a report on Thursday, April 10th. Scotiabank increased their price target on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. increased their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Jefferies Financial Group cut their target price on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $59.15.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded up $0.25 during mid-day trading on Monday, hitting $54.85. 1,440,193 shares of the company traded hands, compared to its average volume of 1,460,061. The firm has a market cap of $88.44 billion, a P/E ratio of 41.55, a PEG ratio of 1.92 and a beta of 1.51. Brookfield Asset Management Ltd. has a 52-week low of $37.30 and a 52-week high of $62.61. The firm's 50 day simple moving average is $54.23 and its 200 day simple moving average is $54.32.

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

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.19%. 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.