Brookfield Asset Management Ltd. (NYSE:BAM) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 41.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,721 shares of the financial services provider’s stock after buying an additional 4,572 shares during the period. Park Avenue Securities LLC’s holdings in Brookfield Asset Management were worth $661,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BAM. Citigroup Inc. raised its holdings in shares of Brookfield Asset Management by 3.6% in the 3rd quarter. Citigroup Inc. now owns 22,626 shares of the financial services provider’s stock worth $757,000 after purchasing an additional 788 shares during the period. Kestra Advisory Services LLC raised its holdings in Brookfield Asset Management by 10.5% in the third quarter. Kestra Advisory Services LLC now owns 10,225 shares of the financial services provider’s stock valued at $341,000 after buying an additional 968 shares during the period. Envestnet Asset Management Inc. lifted its position in Brookfield Asset Management by 55.5% during the third quarter. Envestnet Asset Management Inc. now owns 364,179 shares of the financial services provider’s stock valued at $12,145,000 after buying an additional 129,907 shares in the last quarter. Natixis Advisors L.P. grew its stake in Brookfield Asset Management by 13.4% during the third quarter. Natixis Advisors L.P. now owns 51,136 shares of the financial services provider’s stock worth $1,705,000 after buying an additional 6,032 shares during the period. Finally, Bamco Inc. NY increased its position in shares of Brookfield Asset Management by 1.2% in the third quarter. Bamco Inc. NY now owns 645,990 shares of the financial services provider’s stock worth $21,537,000 after acquiring an additional 7,397 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Up 0.6 %

Shares of NYSE:BAM opened at $38.19 on Friday. The firm has a market cap of $16.90 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 1.73 and a beta of 1.67. The company has a fifty day simple moving average of $39.06 and a 200 day simple moving average of $39.79. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $884.00 million for the quarter. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. As a group, equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BAM. Royal Bank of Canada lifted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 29th. JPMorgan Chase & Co. began coverage on Brookfield Asset Management in a research note on Wednesday, May 15th. They set a “neutral” rating and a $41.00 price objective on the stock. Finally, Scotiabank lowered their target price on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.14.

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.