2Xideas AG Has $13.29 Million Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

2Xideas AG cut its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 38.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 245,118 shares of the financial services provider’s stock after selling 155,882 shares during the quarter. Brookfield Asset Management comprises about 1.8% of 2Xideas AG’s holdings, making the stock its 19th largest position. 2Xideas AG owned 0.06% of Brookfield Asset Management worth $13,287,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Tandem Capital Management Corp ADV grew its holdings in Brookfield Asset Management by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock worth $2,119,000 after acquiring an additional 175 shares during the period. Gold Investment Management Ltd. grew its stake in Brookfield Asset Management by 0.5% during the fourth quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock worth $2,271,000 after purchasing an additional 219 shares during the period. Procyon Advisors LLC increased its holdings in Brookfield Asset Management by 2.7% in the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 249 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Brookfield Asset Management by 35.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after buying an additional 319 shares during the period. Finally, Continuum Advisory LLC boosted its holdings in shares of Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after buying an additional 329 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 6.0 %

Shares of NYSE:BAM opened at $44.21 on Friday. The stock has a market cap of $72.39 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 1.92 and a beta of 1.62. The stock’s fifty day simple moving average is $53.89 and its two-hundred day simple moving average is $53.70. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.96%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

Analyst Upgrades and Downgrades

BAM has been the subject of several research analyst reports. Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Scotiabank decreased their price target on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Keefe, Bruyette & Woods cut their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. Bank of America decreased their target price on Brookfield Asset Management from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday. Finally, UBS Group started coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.04.

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.