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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has earned an average rating of “Hold” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $53.46.

A number of research firms have recently commented on BAM. TD Securities increased their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Bank of America increased their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company increased their price objective on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 5th. BMO Capital Markets increased their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group began coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price for the company.

Brookfield Asset Management Trading Down 0.2 %

BAM stock opened at $55.47 on Friday. The stock has a 50-day moving average price of $51.14 and a two-hundred day moving average price of $43.96. The stock has a market cap of $24.57 billion, a PE ratio of 49.09, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. Brookfield Asset Management has a 1 year low of $33.45 and a 1 year high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter in the prior year, the company earned $0.35 EPS. On average, analysts forecast that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.74%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. TD Asset Management Inc increased its holdings in shares of Brookfield Asset Management by 8.5% during the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after purchasing an additional 1,066,015 shares during the period. Mackenzie Financial Corp increased its stake in Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after acquiring an additional 2,205,040 shares during the last quarter. Vanguard Group Inc. increased its stake in Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock valued at $452,153,000 after acquiring an additional 186,765 shares during the last quarter. Bank of Montreal Can increased its stake in Brookfield Asset Management by 0.5% in the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after acquiring an additional 43,134 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Brookfield Asset Management by 0.3% in the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after acquiring an additional 24,409 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

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.