Brookfield Asset Management Ltd. (NYSE:BAM) Receives $42.32 Consensus PT from Brokerages

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given an average rating of “Moderate Buy” by the ten brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $42.32.

BAM has been the topic of several recent analyst reports. CIBC boosted their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. initiated coverage on Brookfield Asset Management in a research note on Wednesday, May 15th. They set a “neutral” rating and a $41.00 target price for the company. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Scotiabank reduced their target price on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research note on Thursday, May 9th. Finally, Royal Bank of Canada lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $42.10 on Monday. The business’s 50 day simple moving average is $39.36 and its 200 day simple moving average is $39.98. Brookfield Asset Management has a 52-week low of $28.35 and a 52-week high of $43.00. The firm has a market cap of $18.68 billion, a PE ratio of 38.98, a P/E/G ratio of 1.96 and a beta of 1.62.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The business had revenue of $884.00 million for the quarter. As a group, equities 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 declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were issued a dividend of $0.38 per share. The ex-dividend date was Friday, May 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.61%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

Hedge Funds Weigh In On Brookfield Asset Management

Institutional investors have recently modified their holdings of the business. Partners Value Investments L.P. increased its holdings in Brookfield Asset Management by 0.9% in the 4th quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after purchasing an additional 280,098 shares in the last quarter. Capital World Investors boosted its position in shares of Brookfield Asset Management by 10.0% during 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 in the last quarter. TD Asset Management Inc boosted its position in shares of Brookfield Asset Management by 8.6% during the 1st quarter. TD Asset Management Inc now owns 12,486,721 shares of the financial services provider’s stock valued at $525,028,000 after purchasing an additional 988,538 shares in the last quarter. FIL Ltd boosted its holdings in 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 worth $454,424,000 after acquiring an additional 4,501,410 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock worth $452,153,000 after acquiring an additional 186,765 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

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.