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

SG Americas Securities LLC bought a new stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 96,865 shares of the financial services provider's stock, valued at approximately $4,773,000.

Other hedge funds also recently modified their holdings of 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 position 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 valued at $27,000 after buying an additional 419 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at $32,000. NewEdge Advisors LLC lifted its position 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 valued at $47,000 after buying an additional 325 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at $54,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Stock Down 2.8%

NYSE BAM traded down $1.55 during trading hours on Friday, hitting $54.60. 1,238,987 shares of the company were exchanged, compared to its average volume of 1,458,514. The stock has a market cap of $88.04 billion, a PE ratio of 41.36, a price-to-earnings-growth ratio of 1.92 and a beta of 1.51. The stock has a 50-day moving average price of $53.99 and a 200 day moving average price of $54.38. Brookfield Asset Management Ltd. has a 52 week low of $37.30 and a 52 week high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting analysts' consensus estimates of $0.40. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current 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 issued a $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.21%. Brookfield Asset Management's payout ratio is 124.11%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BAM. Hsbc Global Res upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. TD Securities upped their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley upped their price objective on Brookfield Asset Management from $50.00 to $54.00 and gave the stock 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. Finally, Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. Two research 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 stock. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of "Moderate Buy" and an average target price of $59.15.

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.