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 earned an average rating of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $47.41.

A number of analysts have recently weighed in on BAM shares. BMO Capital Markets upped their target price on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th. CIBC raised their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. Jefferies Financial Group started coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price target on the stock. Bank of America raised their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Wells Fargo & Company raised their price target on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the company an “underweight” rating in a research report on Wednesday, October 9th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BAM. National Bank of Canada FI lifted its position in shares of Brookfield Asset Management by 15.5% in the first quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock valued at $31,742,000 after acquiring an additional 107,245 shares in the last quarter. Confluence Investment Management LLC lifted its holdings in Brookfield Asset Management by 382.6% in the 2nd quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock worth $3,420,000 after purchasing an additional 71,263 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in Brookfield Asset Management in the 1st quarter worth approximately $3,014,000. Intact Investment Management Inc. purchased a new stake in Brookfield Asset Management during the 2nd quarter valued at approximately $4,825,000. Finally, Pitcairn Co. bought a new stake in shares of Brookfield Asset Management during the first quarter valued at approximately $525,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.3 %

Shares of BAM opened at $53.55 on Wednesday. Brookfield Asset Management has a 1-year low of $28.35 and a 1-year high of $53.73. The firm has a market capitalization of $23.76 billion, a price-to-earnings ratio of 49.58, a PEG ratio of 2.26 and a beta of 1.56. The firm’s 50-day moving average price is $46.16 and its 200-day moving average price is $41.90.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same quarter in the previous year, the business earned $0.28 EPS. On average, research analysts forecast that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.84%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is presently 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.