2Xideas AG Sells 17,600 Shares of Brookfield Asset Management Ltd. $BAM

2Xideas AG trimmed its position in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169,258 shares of the financial services provider’s stock after selling 17,600 shares during the quarter. Brookfield Asset Management makes up 1.6% of 2Xideas AG’s holdings, making the stock its 17th biggest holding. 2Xideas AG’s holdings in Brookfield Asset Management were worth $9,354,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings in Brookfield Asset Management by 1,270.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after buying an additional 432 shares during the last quarter. Manchester Capital Management LLC grew its holdings in Brookfield Asset Management by 559.5% during the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 442 shares during the last quarter. Sagard Holdings Management Inc. acquired a new position in Brookfield Asset Management in the 2nd quarter valued at approximately $39,000. Truvestments Capital LLC raised its stake in shares of Brookfield Asset Management by 85.5% during the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 432 shares during the last quarter. Finally, DHJJ Financial Advisors Ltd. raised its stake in shares of Brookfield Asset Management by 100,000.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 1,000 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BAM shares. Jefferies Financial Group boosted their price objective on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, August 13th. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, November 24th. Keefe, Bruyette & Woods lowered their price objective on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research report on Monday, November 10th. Finally, Bank of America lowered Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a research note on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and an average price target of $64.32.

Brookfield Asset Management Trading Down 0.2%

NYSE BAM opened at $53.15 on Tuesday. The stock has a market capitalization of $87.05 billion, a P/E ratio of 33.22, a P/E/G ratio of 1.98 and a beta of 1.39. The business has a 50 day simple moving average of $53.93 and a 200 day simple moving average of $56.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97. Brookfield Asset Management Ltd. has a one year low of $41.78 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%. Research analysts expect that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.75 annualized dividend and a yield of 3.3%. Brookfield Asset Management’s dividend payout ratio is currently 109.38%.

Brookfield Asset Management Company 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.