Brookfield Asset Management Ltd. (NYSE:BAM) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC lowered its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,897 shares of the financial services provider’s stock after selling 643 shares during the quarter. Metis Global Partners LLC’s holdings in Brookfield Asset Management were worth $515,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Hara Capital LLC purchased a new position in shares of Brookfield Asset Management in the 3rd quarter worth about $27,000. Massmutual Trust Co. FSB ADV lifted its position in Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after buying an additional 385 shares in the last quarter. Continuum Advisory LLC lifted its position in Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares in the last quarter. Richardson Financial Services Inc. grew its stake in Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after buying an additional 755 shares during the period. Finally, WASHINGTON TRUST Co increased its position in shares of Brookfield Asset Management by 151.3% in the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 640 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $55.47 on Tuesday. The stock has a market capitalization of $24.57 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 2.33 and a beta of 1.42. Brookfield Asset Management Ltd. has a one year low of $33.06 and a one year high of $58.53. The company’s 50-day simple moving average is $50.24 and its 200-day simple moving average is $43.55.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the business posted $0.35 EPS. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.74%. Brookfield Asset Management’s payout ratio is 134.51%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BAM. Bank of America upped their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $52.54.

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.