XTX Topco Ltd Has $3.29 Million Holdings in Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• XTX Topco Ltd significantly increased its stake in Brookfield Asset Management by 1,303.8%, purchasing an additional 63,102 shares to hold a total of 67,942 shares worth approximately $3.29 million.
• Brookfield Asset Management's stock has an average rating of "Moderate Buy" from analysts, with a consensus target price of $60.29 and various ratings ranging from sell to strong buy.
• The company announced a quarterly dividend of $0.4375 per share, resulting in an annualized yield of 2.78%, despite a dividend payout ratio of 124.11%.

XTX Topco Ltd lifted its position in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 1,303.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,942 shares of the financial services provider's stock after acquiring an additional 63,102 shares during the quarter. XTX Topco Ltd's holdings in Brookfield Asset Management were worth $3,292,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Rossby Financial LCC bought a new stake in shares of Brookfield Asset Management in the 1st quarter worth approximately $28,000. ST Germain D J Co. Inc. bought a new stake in shares of Brookfield Asset Management in the 1st quarter worth approximately $26,000. NewEdge Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after purchasing an additional 325 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Brookfield Asset Management in the 4th quarter worth approximately $54,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Brookfield Asset Management by 1,079.6% in the 1st quarter. Larson Financial Group LLC now owns 1,097 shares of the financial services provider's stock worth $53,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded down $0.62 during mid-day trading on Wednesday, reaching $62.17. The company had a trading volume of 1,580,912 shares, compared to its average volume of 1,701,803. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. The stock has a market cap of $101.80 billion, a PE ratio of 44.09, a P/E/G ratio of 2.43 and a beta of 1.43. The company has a 50-day moving average price of $57.12 and a two-hundred day moving average price of $54.73. Brookfield Asset Management Ltd. has a 1-year low of $38.18 and a 1-year high of $63.53.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were issued a dividend of $0.4375 per share. The ex-dividend date was Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.81%. Brookfield Asset Management's dividend payout ratio is 124.11%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Scotiabank cut their price target on Brookfield Asset Management from $69.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday. TD Securities lifted their target price on Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a research note on Monday. National Bankshares set a $71.00 target price on Brookfield Asset Management and gave the company an "outperform" rating in a research note on Tuesday. Piper Sandler assumed coverage on Brookfield Asset Management in a research note on Monday, June 30th. They set a "neutral" rating and a $60.00 target price on the stock. Finally, Bank of America raised Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $62.06.

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.