Brookfield Asset Management Ltd. (NYSE:BAM) Receives Average Rating of “Moderate Buy” from Brokerages

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

BAM has been the subject of several recent research reports. Royal Bank of Canada lifted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 29th. JPMorgan Chase & Co. started coverage on shares of Brookfield Asset Management in a report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 price objective for the company. Finally, Scotiabank lowered their target price on shares of 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.

Institutional Trading of Brookfield Asset Management

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Brookfield Asset Management in the fourth quarter valued at approximately $239,421,000. FIL Ltd increased its stake in shares of Brookfield Asset Management by 66.1% in the 4th 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 during the last quarter. Beutel Goodman & Co Ltd. raised its holdings in shares of 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 boosted its position in shares of 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 during the last quarter. Finally, Capital World Investors grew its holdings in shares of Brookfield Asset Management by 10.0% in the fourth 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 hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $38.01 on Thursday. The company has a market capitalization of $16.81 billion, a P/E ratio of 35.19, a P/E/G ratio of 1.73 and a beta of 1.67. The business’s 50-day moving average is $39.08 and its two-hundred day moving average is $39.81. Brookfield Asset Management has a fifty-two week low of $28.35 and a fifty-two week high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $884.00 million for the quarter. Analysts forecast that Brookfield Asset Management will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, May 31st. This represents a $1.52 annualized dividend and a yield of 4.00%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

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.