Brookfield Asset Management Ltd. (NYSE:BAM) Receives Consensus Rating of “Hold” from Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $58.6538.

BAM has been the subject of several recent analyst reports. Scotia lifted their price objective on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Piper Sandler restated a “neutral” rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Brookfield Asset Management in a research note on Wednesday, August 12th. Finally, UBS Group upped their price target on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, August 6th.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $47.22 on Friday. The firm has a market capitalization of $77.35 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.93 and a beta of 1.27. Brookfield Asset Management has a 1 year low of $42.20 and a 1 year high of $62.57. The business has a 50 day simple moving average of $49.88 and a 200-day simple moving average of $47.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Equities analysts forecast that Brookfield Asset Management will post 1.77 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, August 31st. Brookfield Asset Management’s payout ratio is 116.86%.

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently modified their holdings of the business. Crescent Grove Advisors LLC increased its stake in Brookfield Asset Management by 4.3% in the 4th quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider’s stock worth $251,000 after buying an additional 200 shares during the period. Kestra Advisory Services LLC boosted its position in Brookfield Asset Management by 3.6% in the 4th quarter. Kestra Advisory Services LLC now owns 6,301 shares of the financial services provider’s stock valued at $330,000 after buying an additional 218 shares during the period. Foundations Investment Advisors LLC boosted its position in Brookfield Asset Management by 1.3% in the 4th quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider’s stock valued at $899,000 after buying an additional 226 shares during the period. Integrated Wealth Concepts LLC grew its stake in Brookfield Asset Management by 3.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,578 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 238 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in Brookfield Asset Management by 29.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,096 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 250 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a global alternative asset manager that provides investment management services to institutional investors, governments, financial institutions and private-wealth clients. The company manages and invests capital on behalf of clients through a range of private and public investment strategies.

Its principal investment businesses include real estate, infrastructure, renewable power and transition, private equity, and credit. Brookfield seeks to invest in high-quality assets and businesses, often taking an active ownership and operating role.