Brokerages Set Brookfield Asset Management Ltd. (NYSE:BAM) PT at $42.20

Shares of Brookfield Asset Management Ltd. (NYSE:BAMGet Free Report) (TSE:BAM.A) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $42.20.

A number of research firms have commented on BAM. HSBC cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Scotiabank increased their target price on Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating and increased their price objective for the company from $33.00 to $45.00 in a report on Monday, December 18th. Royal Bank of Canada lifted their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Finally, BMO Capital Markets raised their target price on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th.

Check Out Our Latest Analysis on BAM

Brookfield Asset Management Trading Up 2.1 %

BAM stock opened at $42.65 on Tuesday. The company has a 50-day moving average price of $40.48 and a 200 day moving average price of $36.59. The stock has a market cap of $17.62 billion, a PE ratio of 37.74, a P/E/G ratio of 1.47 and a beta of 1.70. Brookfield Asset Management has a 12 month low of $28.35 and a 12 month high of $43.00.

Brookfield Asset Management (NYSE:BAMGet Free Report) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Brookfield Asset Management had a return on equity of 53.03% and a net margin of 50.23%. The business had revenue of $1.13 billion for the quarter. During the same period in the prior year, the company posted $0.31 earnings per share. Sell-side analysts forecast that Brookfield Asset Management will post 1.56 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, February 29th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, February 28th. This represents a $1.52 dividend on an annualized basis and a yield of 3.56%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. Brookfield Asset Management’s payout ratio is currently 134.51%.

Institutional Trading of Brookfield Asset Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in Brookfield Asset Management by 0.7% in the 1st quarter. American Century Companies Inc. now owns 38,228 shares of the financial services provider’s stock valued at $2,161,000 after acquiring an additional 268 shares during the period. Dimensional Fund Advisors LP lifted its stake in Brookfield Asset Management by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 537,451 shares of the financial services provider’s stock valued at $30,404,000 after purchasing an additional 20,309 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Brookfield Asset Management in the first quarter valued at approximately $22,369,000. Sequoia Financial Advisors LLC bought a new stake in shares of Brookfield Asset Management during the 1st quarter valued at $340,000. Finally, Vanguard Group Inc. increased its position in shares of Brookfield Asset Management by 2.8% in the first quarter. Vanguard Group Inc. now owns 44,050,716 shares of the financial services provider’s stock worth $2,491,950,000 after purchasing an additional 1,220,298 shares during the last quarter. 61.92% of the stock is owned by institutional investors.

About Brookfield Asset Management

(Get Free Report

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.

Further Reading

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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