Metis Global Partners LLC Buys 2,542 Shares of Brookfield Asset Management Ltd. $BAM

Metis Global Partners LLC raised its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 23.5% during the second quarter, Holdings Channel reports. The firm owned 13,370 shares of the financial services provider’s stock after buying an additional 2,542 shares during the quarter. Metis Global Partners LLC’s holdings in Brookfield Asset Management were worth $740,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its position in shares of Brookfield Asset Management by 1,270.6% during the second 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 period. Truvestments Capital LLC boosted its position in Brookfield Asset Management by 85.5% during the 1st 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 in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Brookfield Asset Management by 127.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 995 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 558 shares during the period. DHJJ Financial Advisors Ltd. grew its holdings in shares of Brookfield Asset Management by 100,000.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,001 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 1,000 shares during the period. Finally, Trust Co. of Vermont raised its position in shares of Brookfield Asset Management by 90.4% in the 2nd quarter. Trust Co. of Vermont now owns 1,070 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 508 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BAM shares. Weiss Ratings restated a “buy (b)” rating on shares of Brookfield Asset Management in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $58.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 7th. National Bankshares decreased their price target on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Jefferies Financial Group lifted their price target on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, August 13th. Finally, Royal Bank Of Canada upped their price objective on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Brookfield Asset Management has a consensus rating of “Moderate Buy” and a consensus target price of $64.23.

Brookfield Asset Management Price Performance

BAM opened at $54.01 on Wednesday. The firm has a market cap of $88.45 billion, a PE ratio of 36.24, a P/E/G ratio of 2.04 and a beta of 1.38. The stock has a 50-day moving average price of $56.43 and a 200-day moving average price of $57.43. Brookfield Asset Management Ltd. has a 1 year low of $41.78 and a 1 year high of $64.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. Sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given 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 dividend yield of 3.2%. Brookfield Asset Management’s dividend payout ratio (DPR) is 109.38%.

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.