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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has earned a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $54.38.

BAM has been the subject of several recent analyst reports. UBS Group assumed coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. Scotiabank lifted their target price on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Finally, TD Securities increased their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th.

Brookfield Asset Management Stock Up 0.9 %

NYSE:BAM opened at $55.56 on Monday. The firm has a market capitalization of $24.62 billion, a price-to-earnings ratio of 49.17, a price-to-earnings-growth ratio of 1.75 and a beta of 1.45. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $59.58. The stock’s 50 day moving average price is $55.82 and its two-hundred day moving average price is $48.67.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. As a group, analysts anticipate that Brookfield Asset Management will post 1.45 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.74%. Brookfield Asset Management’s payout ratio is 134.51%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of large investors have recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board lifted its position in shares of Brookfield Asset Management by 0.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock valued at $2,201,000 after acquiring an additional 188 shares during the period. Procyon Advisors LLC raised its stake in Brookfield Asset Management by 2.7% in the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 249 shares in the last quarter. Pathstone Holdings LLC grew its stake in Brookfield Asset Management by 1.0% during the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after buying an additional 278 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in Brookfield Asset Management by 5.0% during the third quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $315,000 after buying an additional 315 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in Brookfield Asset Management by 35.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider’s stock valued at $66,000 after buying an additional 319 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

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.