Brookfield Asset Management Ltd. (NYSE:BAM) Given Consensus Recommendation of “Hold” by Analysts

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has received an average rating of “Hold” from the nineteen research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $63.8594.

BAM has been the topic of a number of research analyst reports. National Bankshares dropped their price objective on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Wall Street Zen lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Sunday, December 21st. Keefe, Bruyette & Woods decreased their target price on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a report on Monday, November 10th. Bank of America cut Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a research note on Thursday, September 4th. Finally, UBS Group set a $59.00 price target on Brookfield Asset Management in a report on Thursday, December 11th.

Institutional Trading of Brookfield Asset Management

Several hedge funds and other institutional investors have recently made changes to their positions in BAM. Norges Bank acquired a new stake in Brookfield Asset Management during the second quarter worth approximately $294,730,000. State Street Corp raised its position in shares of Brookfield Asset Management by 11,172.2% in the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after purchasing an additional 3,493,431 shares in the last quarter. Legal & General Group Plc boosted its stake in Brookfield Asset Management by 2,834.0% during the 3rd quarter. Legal & General Group Plc now owns 2,365,709 shares of the financial services provider’s stock valued at $134,659,000 after acquiring an additional 2,285,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Brookfield Asset Management by 72.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock worth $222,161,000 after purchasing an additional 1,642,375 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Brookfield Asset Management by 62.4% during the second quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider’s stock worth $208,571,000 after purchasing an additional 1,443,441 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $53.37 on Monday. Brookfield Asset Management has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $87.42 billion, a PE ratio of 33.36, a PEG ratio of 2.38 and a beta of 1.39. The stock’s fifty day moving average is $53.02 and its 200 day moving average is $56.51.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results 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 net margin of 58.25% and a return on equity of 33.77%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.34 billion. On average, sell-side analysts anticipate that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a $0.4375 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.3%. Brookfield Asset Management’s dividend payout ratio is 109.38%.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.