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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been assigned an average rating of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $42.46.

A number of research analysts have commented on BAM shares. Scotiabank reduced their price objective on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their price objective on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 price target on the stock. Finally, StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th.

Brookfield Asset Management Price Performance

NYSE BAM opened at $42.22 on Tuesday. The company has a market cap of $18.74 billion, a P/E ratio of 39.09, a P/E/G ratio of 2.09 and a beta of 1.57. Brookfield Asset Management has a 12 month low of $28.35 and a 12 month high of $44.38. The company has a 50-day moving average of $40.67 and a 200-day moving average of $40.19.

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

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $0.38 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.60%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of Brookfield Asset Management in the 2nd quarter worth about $830,000. Clearbridge Investments LLC lifted its holdings in Brookfield Asset Management by 5.0% in the second quarter. Clearbridge Investments LLC now owns 18,217 shares of the financial services provider’s stock worth $693,000 after acquiring an additional 875 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in Brookfield Asset Management in the second quarter worth about $201,000. B. Riley Wealth Advisors Inc. acquired a new position in Brookfield Asset Management in the second quarter valued at approximately $201,000. Finally, Ascent Group LLC grew its holdings in shares of Brookfield Asset Management by 75.7% during the second quarter. Ascent Group LLC now owns 10,655 shares of the financial services provider’s stock valued at $405,000 after purchasing an additional 4,590 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

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.