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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given a consensus recommendation of “Hold” by the seventeen analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $60.4062.

BAM has been the topic of several research reports. Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Royal Bank Of Canada decreased their price objective on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Scotiabank reissued an “outperform” rating and set a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. The Goldman Sachs Group decreased their price target on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Finally, Morgan Stanley dropped their price objective on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $49.51 on Friday. The stock has a market cap of $81.10 billion, a PE ratio of 32.15, a P/E/G ratio of 2.02 and a beta of 1.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a 50-day moving average of $47.23 and a 200-day moving average of $48.09. Brookfield Asset Management has a 52-week low of $42.20 and a 52-week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.43 billion for 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, sell-side analysts anticipate that Brookfield Asset Management will post 1.74 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were given a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, May 29th. Brookfield Asset Management’s payout ratio is presently 130.52%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds have recently added to or reduced their stakes in BAM. Cardinal Capital Management Inc. bought a new stake in shares of Brookfield Asset Management during the 2nd quarter valued at $3,797,000. Allied Private Wealth LLC acquired a new position in Brookfield Asset Management in the second quarter valued at about $40,000. Castle Rock Wealth Management LLC lifted its position in Brookfield Asset Management by 5.3% during the second quarter. Castle Rock Wealth Management LLC now owns 26,427 shares of the financial services provider’s stock worth $1,200,000 after purchasing an additional 1,334 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab grew its stake in Brookfield Asset Management by 12.9% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 48,110 shares of the financial services provider’s stock worth $2,157,000 after buying an additional 5,500 shares in the last quarter. Finally, Thrive Wealth Management LLC acquired a new stake in Brookfield Asset Management during the second quarter worth about $269,000. Institutional investors own 68.41% of the company’s stock.

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.