Brookfield Asset Management Ltd. (NYSE:BAM) Given Consensus Recommendation of “Hold” by Brokerages

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given an average recommendation of “Hold” by the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $54.38.

BAM has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Scotiabank upped their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Finally, The Goldman Sachs Group lifted their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th.

Hedge Funds Weigh In On Brookfield Asset Management

Several hedge funds have recently added to or reduced their stakes in BAM. Public Sector Pension Investment Board increased its stake in shares of Brookfield Asset Management by 0.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock valued at $2,201,000 after acquiring an additional 188 shares during the last quarter. Procyon Advisors LLC increased its stake in Brookfield Asset Management by 2.7% in the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 249 shares in the last quarter. Pathstone Holdings LLC raised its holdings in Brookfield Asset Management by 1.0% in the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 278 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of Brookfield Asset Management by 5.0% during the third quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 315 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Brookfield Asset Management by 35.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after buying an additional 319 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $55.56 on Monday. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $59.58. The stock has a market cap of $24.62 billion, a PE ratio of 49.17, a PEG ratio of 1.75 and a beta of 1.45. The firm has a 50-day simple moving average of $55.82 and a 200 day simple moving average of $48.67.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter last year, the company earned $0.35 EPS. Research analysts forecast that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

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.