XTX Topco Ltd Cuts Position in Brookfield Asset Management Ltd. (NYSE:BAM)

XTX Topco Ltd cut its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 80.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,840 shares of the financial services provider's stock after selling 19,744 shares during the period. XTX Topco Ltd's holdings in Brookfield Asset Management were worth $262,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Brookfield Asset Management in the fourth quarter worth about $287,361,000. William Blair Investment Management LLC acquired a new position in Brookfield Asset Management in the 4th quarter worth about $204,169,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock worth $216,507,000 after purchasing an additional 2,031,995 shares during the period. Madison Investment Advisors LLC purchased a new position in Brookfield Asset Management during the fourth quarter worth approximately $94,122,000. Finally, TD Asset Management Inc. grew its holdings in Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after purchasing an additional 1,359,126 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BAM shares. Bank of America upgraded Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a research report on Thursday, April 10th. Morgan Stanley decreased their price objective on shares of Brookfield Asset Management from $62.00 to $50.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods decreased their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a research note on Monday, January 13th. Finally, Scotiabank cut their price objective on Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating for the company in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $57.00.

Brookfield Asset Management Stock Up 1.1 %

NYSE:BAM traded up $0.61 on Thursday, hitting $53.94. The stock had a trading volume of 269,901 shares, compared to its average volume of 1,434,977. The company has a fifty day moving average price of $49.81 and a two-hundred day moving average price of $53.80. Brookfield Asset Management Ltd. has a 1-year low of $37.29 and a 1-year high of $62.61. The stock has a market cap of $88.32 billion, a price-to-earnings ratio of 41.07, a PEG ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a $0.4375 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.24%. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's dividend payout ratio is presently 132.58%.

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.