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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given an average recommendation of “Hold” by the eighteen brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $60.2059.

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings lowered shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Scotiabank reaffirmed an “outperform” rating and set a $57.00 price target (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. Wall Street Zen lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Morgan Stanley dropped their price target on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently bought and sold shares of BAM. Norges Bank acquired a new position in Brookfield Asset Management during the fourth quarter worth approximately $263,444,000. Principal Financial Group Inc. increased its position in Brookfield Asset Management by 62.0% during the first quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock worth $566,092,000 after purchasing an additional 4,872,090 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Brookfield Asset Management by 88,805.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider’s stock worth $247,559,000 after purchasing an additional 4,719,999 shares during the last quarter. State Street Corp increased its position in Brookfield Asset Management by 11,172.2% during the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock worth $194,845,000 after purchasing an additional 3,493,431 shares during the last quarter. Finally, GFI Investment Counsel Ltd. acquired a new position in Brookfield Asset Management during the fourth quarter worth approximately $182,090,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $48.96 on Thursday. The firm has a 50 day simple moving average of $46.59 and a 200-day simple moving average of $49.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $80.20 billion, a PE ratio of 31.79, a P/E/G ratio of 1.97 and a beta of 1.28. Brookfield Asset Management has a 1-year low of $42.20 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. On average, equities analysts expect that Brookfield Asset Management will post 1.75 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.5025 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.01 annualized dividend and a yield of 4.1%. Brookfield Asset Management’s dividend payout ratio is 130.52%.

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.