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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has received an average rating of “Hold” from the seventeen ratings firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $63.9412.

A number of research analysts recently weighed in on the company. UBS Group set a $58.00 price objective on Brookfield Asset Management and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. National Bank Financial reduced their price objective on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Finally, Loop Capital set a $60.00 target price on shares of Brookfield Asset Management in a research report on Tuesday, January 6th.

Institutional Trading of Brookfield Asset Management

Several large investors have recently bought and sold shares of BAM. Vanguard Group Inc. raised its stake in shares of Brookfield Asset Management by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock worth $928,414,000 after buying an additional 297,790 shares during the last quarter. TD Asset Management Inc increased its holdings in Brookfield Asset Management by 2.0% during the 4th quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider’s stock valued at $827,135,000 after acquiring an additional 315,036 shares in the last quarter. Mackenzie Financial Corp raised its position in Brookfield Asset Management by 2.5% during the second quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider’s stock worth $631,412,000 after acquiring an additional 282,853 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Brookfield Asset Management by 7.3% in the fourth quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider’s stock valued at $411,972,000 after purchasing an additional 533,639 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at approximately $294,730,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $52.64 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The company has a market cap of $86.21 billion, a P/E ratio of 34.63, a PEG ratio of 1.94 and a beta of 1.40. Brookfield Asset Management has a 52 week low of $41.78 and a 52 week high of $64.10. The company has a 50-day moving average price of $52.36 and a 200 day moving average price of $55.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%. Research analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a $0.5025 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 3.8%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s payout ratio is currently 115.13%.

About Brookfield Asset Management

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.