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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $64.3167.

A number of research firms have recently issued reports on BAM. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the company a “market perform” rating in a research note on Thursday, August 7th. National Bankshares decreased their price target on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Bank of America lowered Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price target for the company. in a research report on Thursday, September 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, November 24th. Finally, Jefferies Financial Group raised their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, August 13th.

Institutional Investors Weigh In On Brookfield Asset Management

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew its stake in shares of Brookfield Asset Management by 1,270.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 432 shares in the last quarter. Manchester Capital Management LLC grew its holdings in shares of Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 442 shares during the last quarter. Sagard Holdings Management Inc. acquired a new stake in Brookfield Asset Management during the 2nd quarter worth $39,000. Truvestments Capital LLC grew its holdings in shares of Brookfield Asset Management by 85.5% during the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after buying an additional 432 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Brookfield Asset Management by 95.9% in the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 395 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Up 1.7%

BAM opened at $53.11 on Thursday. The firm has a market capitalization of $86.99 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 1.92 and a beta of 1.39. The company’s 50 day simple moving average is $54.23 and its two-hundred day simple moving average is $56.92. Brookfield Asset Management has a 1-year low of $41.78 and a 1-year high of $64.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%.The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.34 billion. Analysts expect that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a $0.4375 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.3%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 109.38%.

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.