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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given a consensus recommendation of “Hold” by the eleven research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $46.41.

Several analysts recently commented on the company. TD Securities lifted their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. BMO Capital Markets boosted their price target on Brookfield Asset Management from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. CIBC upped their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research report on Friday, July 19th. Bank of America raised their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, August 8th.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors have recently bought and sold shares of the business. YHB Investment Advisors Inc. purchased a new position in shares of Brookfield Asset Management in the first quarter worth $26,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 385 shares during the last quarter. Continuum Advisory LLC grew its position in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 758 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its position in shares of Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after buying an additional 755 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 1.6 %

Shares of NYSE BAM opened at $48.60 on Friday. The firm’s 50-day moving average price is $43.46 and its 200-day moving average price is $41.06. Brookfield Asset Management has a 52-week low of $28.35 and a 52-week high of $48.97. The company has a market cap of $21.57 billion, a PE ratio of 44.18, a PEG ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter in the prior year, the business posted $0.28 EPS. As a group, equities research analysts anticipate that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.13%. Brookfield Asset Management’s payout ratio is 138.18%.

About Brookfield Asset Management

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.