Brookfield Asset Management Ltd. (NYSE:BAM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM – Get Rating) (TSE:BAM.A) have earned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, four have issued a buy recommendation and one has given a strong 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 $43.57.

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Brookfield Asset Management from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 target price on shares of Brookfield Asset Management in a report on Tuesday, March 28th. Keefe, Bruyette & Woods downgraded shares of Brookfield Asset Management to an “underperform” rating in a research report on Tuesday, April 18th. Finally, StockNews.com initiated coverage on shares of Brookfield Asset Management in a research report on Thursday, May 18th. They issued a “hold” rating for the company.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $31.63 on Wednesday. The company has a fifty day simple moving average of $32.03 and a 200-day simple moving average of $34.17. Brookfield Asset Management has a 12-month low of $26.76 and a 12-month high of $36.50.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $1.28 dividend on an annualized basis and a yield of 4.05%.

Insiders Place Their Bets

In other Brookfield Asset Management news, Director Multi-Strategy Mast Brookfield sold 24,744 shares of the company’s stock in a transaction on Tuesday, March 28th. The shares were sold at an average price of $11.96, for a total transaction of $295,938.24. Following the completion of the transaction, the director now owns 21,104,923 shares in the company, valued at approximately $252,414,879.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Brookfield Asset Management

Large investors have recently made changes to their positions in the stock. Signaturefd LLC increased its holdings in shares of Brookfield Asset Management by 288.8% in the 1st quarter. Signaturefd LLC now owns 762 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 566 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Brookfield Asset Management by 7,777.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 709 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 700 shares in the last quarter. CWM LLC increased its holdings in shares of Brookfield Asset Management by 107.9% in the 1st quarter. CWM LLC now owns 1,021 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 530 shares in the last quarter. UMB Bank n.a. purchased a new position in shares of Brookfield Asset Management in the 1st quarter valued at about $35,000. Finally, HBC Financial Services PLLC purchased a new position in shares of Brookfield Asset Management in the 1st quarter valued at about $39,000.

About Brookfield Asset Management

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Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.