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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given an average recommendation of “Hold” by the thirteen analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $54.54.

BAM has been the topic of several analyst reports. Scotiabank lifted their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. TD Securities lifted their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods increased their price target on shares of Brookfield Asset Management from $49.00 to $57.00 and gave the company an “underperform” rating in a research note on Friday, December 20th. BMO Capital Markets lifted their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group upped 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.

Brookfield Asset Management Trading Down 6.4 %

Shares of NYSE BAM opened at $52.17 on Monday. The company has a 50-day moving average of $56.02 and a 200 day moving average of $48.18. Brookfield Asset Management has a 12-month low of $37.19 and a 12-month high of $59.58. The stock has a market cap of $23.11 billion, a PE ratio of 46.17, a P/E/G ratio of 2.43 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.35 earnings per share. On average, sell-side analysts forecast that Brookfield Asset Management will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Hedge Funds Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in Brookfield Asset Management by 68.5% in 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 acquiring an additional 2,788,611 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Brookfield Asset Management by 19.5% in 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 purchasing an additional 2,205,040 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Brookfield Asset Management in the 2nd quarter valued at $42,160,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Brookfield Asset Management by 66.4% during the 3rd 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 purchasing an additional 784,250 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Brookfield Asset Management during the third quarter worth $19,075,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

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.