Meketa Capital LLC Acquires New Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Meketa Capital LLC acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 43,751 shares of the financial services provider's stock, valued at approximately $2,371,000. Brookfield Asset Management accounts for 5.3% of Meketa Capital LLC's investment portfolio, making the stock its 8th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BAM. Truvestments Capital LLC lifted its stake in shares of Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 419 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in Brookfield Asset Management during the fourth quarter worth about $32,000. NewEdge Advisors LLC raised its position in Brookfield Asset Management by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after acquiring an additional 325 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Brookfield Asset Management during the fourth quarter worth about $54,000. Finally, Redwood Park Advisors LLC acquired a new position in Brookfield Asset Management during the fourth quarter worth about $64,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Up 2.1%

BAM opened at $57.52 on Tuesday. Brookfield Asset Management Ltd. has a 52-week low of $37.29 and a 52-week high of $62.61. The company has a 50 day moving average of $49.74 and a two-hundred day moving average of $54.10. The company has a market cap of $94.18 billion, a P/E ratio of 43.58, a P/E/G ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. Research analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.04%. Brookfield Asset Management's payout ratio is currently 124.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BAM shares. Jefferies Financial Group cut their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating for the company in a report on Monday, January 13th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. BMO Capital Markets lifted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a report on Thursday, February 13th. Finally, Scotiabank lifted their price target on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.77.

Brookfield Asset Management 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.

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