Brookfield Asset Management Ltd. (NYSE:BAM) Given Average Rating of “Hold” by Analysts

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $54.54.

BAM has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on Brookfield Asset Management from $49.00 to $57.00 and gave the stock an “underperform” rating in a research note on Friday, December 20th. UBS Group assumed coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating on the stock. Wells Fargo & Company upped their target price on Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a report on Thursday, December 12th. Royal Bank of Canada lifted their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Scotiabank upped their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $55.46 on Thursday. Brookfield Asset Management has a fifty-two week low of $37.19 and a fifty-two week high of $59.58. The firm has a market cap of $24.57 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41. The business has a 50 day moving average price of $55.46 and a 200-day moving average price of $46.73.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company posted $0.35 EPS. Research analysts predict that Brookfield Asset Management will post 1.47 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is 134.51%.

Institutional Trading of Brookfield Asset Management

A number of hedge funds have recently made changes to their positions in BAM. TD Asset Management Inc raised its stake in Brookfield Asset Management by 8.5% during the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after buying an additional 1,066,015 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Brookfield Asset Management by 19.5% during the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after acquiring an additional 2,205,040 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Brookfield Asset Management by 0.5% during the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after acquiring an additional 43,134 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Brookfield Asset Management by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Brookfield Asset Management by 68.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

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.