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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned a consensus rating of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $53.46.

Several analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Bank of America lifted their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday. 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. Finally, TD Securities raised their target price on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th.

Institutional Trading of Brookfield Asset Management

Several institutional investors and hedge funds have recently made changes to their positions in BAM. Hara Capital LLC bought a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at $27,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at $27,000. Massmutual Trust Co. FSB ADV increased its position in shares of Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after buying an additional 385 shares in the last quarter. Continuum Advisory LLC increased its position in shares of Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its position in shares of Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after buying an additional 755 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $55.47 on Friday. Brookfield Asset Management has a 12 month low of $33.45 and a 12 month high of $58.53. The firm has a market capitalization of $24.57 billion, a PE ratio of 49.09, a P/E/G ratio of 2.28 and a beta of 1.42. The business has a 50-day moving average of $51.14 and a two-hundred day moving average of $43.96.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm earned $0.35 EPS. As a group, research analysts anticipate that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend 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.