Brookfield Asset Management Ltd. (NYSE:BAM) Receives $57.15 Consensus Price Target from Analysts

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $57.15.

A number of analysts have recently issued reports on BAM shares. TD Securities raised their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Morgan Stanley cut their target price on Brookfield Asset Management from $62.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Jefferies Financial Group reduced their target price on Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. BMO Capital Markets increased their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Finally, Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th.

Brookfield Asset Management Stock Up 1.0 %

Shares of NYSE:BAM opened at $52.97 on Wednesday. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61. The stock has a market cap of $86.73 billion, a P/E ratio of 40.13, a PEG ratio of 1.92 and a beta of 1.63. The business has a fifty day moving average of $50.19 and a two-hundred day moving average of $53.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, equities analysts anticipate that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a $0.4375 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.30%. Brookfield Asset Management’s dividend payout ratio (DPR) is 132.58%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAM. Principal Financial Group Inc. raised its stake in Brookfield Asset Management by 0.3% in the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after buying an additional 24,409 shares in the last quarter. Morse Asset Management Inc purchased a new position in shares of Brookfield Asset Management in the 3rd quarter valued at about $176,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Asset Management during the 3rd quarter worth about $209,000. Versant Capital Management Inc lifted its stake in Brookfield Asset Management by 1,606.3% during the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 771 shares during the last quarter. Finally, JCIC Asset Management Inc. boosted its holdings in Brookfield Asset Management by 1.4% in the fourth quarter. JCIC Asset Management Inc. now owns 84,179 shares of the financial services provider’s stock valued at $4,562,000 after purchasing an additional 1,159 shares in the last quarter. Institutional investors and hedge funds 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.