SG Americas Securities LLC Buys Shares of 92,180 Brookfield Asset Management Ltd. (NYSE:BAM)

SG Americas Securities LLC purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 92,180 shares of the financial services provider's stock, valued at approximately $4,359,000.

Other hedge funds have also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. raised its stake in shares of Brookfield Asset Management by 4.4% in the first quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider's stock worth $261,000 after purchasing an additional 263 shares during the last quarter. CWM LLC lifted its stake in Brookfield Asset Management by 12.2% during the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider's stock valued at $93,000 after acquiring an additional 267 shares during the period. Choate Investment Advisors boosted its holdings in shares of Brookfield Asset Management by 3.3% in the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider's stock valued at $374,000 after acquiring an additional 285 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock worth $30,000 after acquiring an additional 285 shares during the period. Finally, Adalta Capital Management LLC raised its holdings in shares of Brookfield Asset Management by 0.8% during the first quarter. Adalta Capital Management LLC now owns 43,494 shares of the financial services provider's stock worth $1,828,000 after purchasing an additional 366 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the company a "market perform" rating in a report on Wednesday, September 11th. Wells Fargo & Company began coverage on Brookfield Asset Management in a report on Thursday, September 12th. They set an "underweight" rating and a $42.00 target price on the stock. Bank of America boosted their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. Jefferies Financial Group started coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They issued a "hold" rating and a $43.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Brookfield Asset Management has an average rating of "Hold" and a consensus price target of $44.63.

Brookfield Asset Management Trading Down 1.1 %

NYSE:BAM traded down $0.54 during trading hours on Monday, reaching $47.24. 572,092 shares of the company were exchanged, compared to its average volume of 1,283,192. The firm has a market cap of $20.96 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 2.36 and a beta of 1.56. Brookfield Asset Management Ltd. has a twelve month low of $28.35 and a twelve month high of $48.15. The stock's 50-day moving average is $42.94 and its 200-day moving average is $40.85.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company earned $0.28 EPS. As a group, research analysts anticipate that Brookfield Asset Management Ltd. will post 1.42 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management's dividend payout ratio is presently 140.74%.

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.