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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been assigned a consensus rating of “Hold” from the twelve research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $43.81.

Several equities research analysts have recently weighed in on BAM shares. BMO Capital Markets raised their price objective on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 11th. Wells Fargo & Company initiated coverage on Brookfield Asset Management in a research note on Thursday, September 12th. They issued an “underweight” rating and a $42.00 price target on the stock. Jefferies Financial Group assumed coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of Brookfield Asset Management from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds have recently added to or reduced their stakes in the stock. YHB Investment Advisors Inc. bought a new position in shares of Brookfield Asset Management in the first quarter worth $26,000. Massmutual Trust Co. FSB ADV raised its position in Brookfield Asset Management by 98.2% during the second 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 in the last quarter. Continuum Advisory LLC raised its holdings in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after buying an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its holdings 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 acquiring an additional 755 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of BAM opened at $45.21 on Tuesday. Brookfield Asset Management has a 12 month low of $28.35 and a 12 month high of $45.42. The company has a market cap of $20.06 billion, a P/E ratio of 41.86, a PEG ratio of 2.26 and a beta of 1.56. The stock has a fifty day moving average price of $41.25 and a 200 day moving average price of $40.31.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $0.28 earnings per share. As a group, research analysts anticipate that Brookfield Asset Management will post 1.42 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

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.