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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been assigned a consensus recommendation of “Hold” from the eighteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $60.2059.

Several equities research analysts recently issued reports on BAM shares. Royal Bank Of Canada cut their price objective on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a research note on Monday, May 11th. Piper Sandler reiterated a “neutral” rating and issued a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Morgan Stanley decreased their price objective on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Finally, Scotiabank reiterated an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th.

Institutional Investors Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently made changes to their positions in the business. Western Wealth Management LLC acquired a new position in Brookfield Asset Management in the 1st quarter valued at about $280,000. Empowered Funds LLC acquired a new position in Brookfield Asset Management in the 1st quarter valued at about $255,000. Rathbones Group PLC raised its stake in Brookfield Asset Management by 13.6% in the 1st quarter. Rathbones Group PLC now owns 70,118 shares of the financial services provider’s stock valued at $3,108,000 after purchasing an additional 8,411 shares during the last quarter. Summitry LLC raised its stake in Brookfield Asset Management by 3.3% in the 1st quarter. Summitry LLC now owns 167,381 shares of the financial services provider’s stock valued at $7,440,000 after purchasing an additional 5,291 shares during the last quarter. Finally, Essential Partners LLC raised its stake in Brookfield Asset Management by 3,621.0% in the 1st quarter. Essential Partners LLC now owns 2,307 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 2,245 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

BAM stock opened at $47.48 on Monday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The stock has a market cap of $77.78 billion, a PE ratio of 30.83, a P/E/G ratio of 1.90 and a beta of 1.26. The company has a 50-day moving average price of $47.76 and a 200 day moving average price of $49.03. Brookfield Asset Management has a 12 month low of $42.20 and a 12 month 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 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The firm 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%. Equities research analysts anticipate that Brookfield Asset Management will post 1.75 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a $0.5025 dividend. The ex-dividend date is Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.2%. Brookfield Asset Management’s payout ratio is currently 130.52%.

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.