Park Avenue Securities LLC Acquires 4,572 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Park Avenue Securities LLC grew its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 41.0% during 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 acquiring an additional 4,572 shares during the quarter. Park Avenue Securities LLC’s holdings in Brookfield Asset Management were worth $661,000 as of its most recent SEC filing.

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

Brookfield Asset Management Trading Up 0.6 %

Shares of BAM stock opened at $38.19 on Friday. The stock has a market capitalization of $16.90 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 1.73 and a beta of 1.67. Brookfield Asset Management Ltd. has a 12-month low of $28.35 and a 12-month high of $43.00. The stock’s 50-day moving average price is $39.06 and its 200-day moving average price is $39.79.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. The business had revenue of $884.00 million during the quarter. As a group, research analysts predict 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. Stockholders of record on Friday, May 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Wall Street Analysts Forecast Growth

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

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.