Brookfield Asset Management Ltd. (NYSE:BAM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given an average rating of “Moderate Buy” by the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $42.14.

BAM has been the topic of several research analyst reports. Scotiabank reduced their price objective on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research note on Thursday, May 9th. JPMorgan Chase & Co. initiated coverage on shares of Brookfield Asset Management in a report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 price target for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $37.48 on Thursday. The stock has a market capitalization of $16.63 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 1.72 and a beta of 1.63. Brookfield Asset Management has a one year low of $28.35 and a one year high of $43.00. The company’s 50-day simple moving average is $39.05 and its 200-day simple moving average is $39.84.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $884.00 million for the quarter. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. As a group, research analysts forecast that Brookfield Asset Management will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.06%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Institutional Trading of Brookfield Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in BAM. Norges Bank bought a new position in shares of Brookfield Asset Management in the fourth quarter valued at $239,421,000. FIL Ltd lifted its holdings in shares of Brookfield Asset Management by 66.1% in the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after purchasing an additional 4,501,410 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its position in Brookfield Asset Management by 114.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock worth $279,387,000 after acquiring an additional 3,695,774 shares during the period. TD Asset Management Inc grew its stake in Brookfield Asset Management by 29.2% during the 4th quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock valued at $464,078,000 after acquiring an additional 2,595,793 shares in the last quarter. Finally, Capital World Investors increased its holdings in shares of Brookfield Asset Management by 10.0% in the 4th quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after purchasing an additional 2,241,372 shares during the period. 68.41% of the stock is currently owned by institutional investors.

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.