SG Americas Securities LLC Makes New Investment in Brookfield Asset Management Ltd. $BAM

SG Americas Securities LLC bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 48,365 shares of the financial services provider’s stock, valued at approximately $2,754,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its position in shares of Brookfield Asset Management by 1.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 430,081 shares of the financial services provider’s stock valued at $23,774,000 after acquiring an additional 6,728 shares during the period. Legal & General Group Plc lifted its position in Brookfield Asset Management by 144.5% during the second quarter. Legal & General Group Plc now owns 80,632 shares of the financial services provider’s stock worth $4,456,000 after purchasing an additional 47,659 shares during the period. Avior Wealth Management LLC grew its stake in Brookfield Asset Management by 2,106.9% during the second quarter. Avior Wealth Management LLC now owns 7,724 shares of the financial services provider’s stock worth $427,000 after buying an additional 7,374 shares in the last quarter. Geode Capital Management LLC increased its holdings in Brookfield Asset Management by 62.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock valued at $208,571,000 after buying an additional 1,443,441 shares during the period. Finally, Prudential Financial Inc. acquired a new position in shares of Brookfield Asset Management in the 2nd quarter valued at approximately $1,214,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on BAM. Keefe, Bruyette & Woods reduced their price target on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a research report on Monday, November 10th. UBS Group set a $58.00 target price on Brookfield Asset Management and gave the company a “neutral” rating in a report on Tuesday. Morgan Stanley set a $62.00 price target on Brookfield Asset Management in a report on Monday, October 13th. Royal Bank Of Canada set a $74.00 price objective on Brookfield Asset Management and gave the company an “outperform” rating in a research note on Monday, December 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.38.

Brookfield Asset Management Price Performance

Shares of BAM opened at $52.45 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The stock has a market cap of $85.91 billion, a PE ratio of 32.78, a PEG ratio of 2.19 and a beta of 1.39. Brookfield Asset Management Ltd. has a 12-month low of $41.78 and a 12-month high of $64.10. The business has a 50-day simple moving average of $52.82 and a two-hundred day simple moving average of $56.40.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.3%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 109.38%.

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.