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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have received a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $53.88.

Several brokerages recently weighed in on BAM. Keefe, Bruyette & Woods upped their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. BMO Capital Markets upped their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada lifted their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company raised their target price on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research note on Thursday, December 12th.

Brookfield Asset Management Trading Down 7.0 %

Shares of BAM opened at $53.80 on Thursday. Brookfield Asset Management has a 1-year low of $37.19 and a 1-year high of $59.58. The firm’s 50-day moving average price is $54.87 and its 200-day moving average price is $46.17. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of 47.61, a PEG ratio of 2.43 and a beta of 1.41.

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 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the business posted $0.35 earnings per share. On average, research analysts forecast that Brookfield Asset Management will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.83%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Institutional Investors Weigh In On Brookfield Asset Management

Several institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its position in Brookfield Asset Management by 68.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Brookfield Asset Management by 19.5% during the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after buying an additional 2,205,040 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Brookfield Asset Management during the 2nd quarter valued at $42,160,000. TD Asset Management Inc boosted its stake in shares of Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after buying an additional 1,066,015 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Brookfield Asset Management by 66.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after acquiring an additional 784,250 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

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.