XTX Topco Ltd Purchases 18,289 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

XTX Topco Ltd lifted its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 290.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,584 shares of the financial services provider’s stock after acquiring an additional 18,289 shares during the quarter. XTX Topco Ltd’s holdings in Brookfield Asset Management were worth $1,163,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Avior Wealth Management LLC grew its stake in Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 10,000 shares during the last quarter. Intact Investment Management Inc. purchased a new position in Brookfield Asset Management in the second quarter valued at about $4,825,000. LGT Capital Partners LTD. grew its stake in Brookfield Asset Management by 11.5% in the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock valued at $25,273,000 after purchasing an additional 55,000 shares during the last quarter. CIBC Asset Management Inc grew its stake in Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Brookfield Asset Management by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock valued at $39,516,000 after purchasing an additional 45,670 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Trading Down 0.3 %

Shares of NYSE:BAM opened at $57.40 on Tuesday. Brookfield Asset Management Ltd. has a 12-month low of $35.65 and a 12-month high of $58.53. The company has a market capitalization of $24.09 billion, a PE ratio of 50.80, a PEG ratio of 2.37 and a beta of 1.41. The business has a 50 day moving average of $53.47 and a two-hundred day moving average of $45.34.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company posted $0.35 earnings per share. Equities research analysts predict that Brookfield Asset Management Ltd. will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s payout ratio is presently 134.51%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Securities boosted their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada boosted their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Bank of America boosted their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group boosted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $53.46.

About Brookfield Asset Management

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.