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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $56.38.

BAM has been the subject of a number of recent research reports. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. CIBC increased their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Scotiabank lowered their target price on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company reduced their price target on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a research report on Thursday, March 20th. Finally, TD Securities raised their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th.

Brookfield Asset Management Trading Down 3.8 %

Shares of Brookfield Asset Management stock opened at $48.48 on Friday. The stock’s fifty day moving average price is $54.84 and its 200-day moving average price is $53.52. The firm has a market cap of $79.37 billion, a P/E ratio of 36.72, a P/E/G ratio of 1.92 and a beta of 1.50. Brookfield Asset Management has a 12 month low of $37.29 and a 12 month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.61%. Brookfield Asset Management’s dividend payout ratio (DPR) is 132.58%.

Institutional Trading of Brookfield Asset Management

Institutional investors and hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC lifted its position in shares of Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after buying an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in Brookfield Asset Management during the fourth quarter valued at $32,000. Versant Capital Management Inc grew its position in shares of Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares during the period. NewEdge Advisors LLC increased its stake in shares of Brookfield Asset Management by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 325 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Brookfield Asset Management during the 4th quarter worth about $54,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

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.