Brookfield Asset Management Ltd. (NYSE:BAM) Receives $42.20 Average PT from Analysts

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $42.20.

A number of brokerages recently issued reports on BAM. HSBC cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. BMO Capital Markets raised their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, February 8th. TD Securities dropped their price objective on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a research note on Tuesday, January 9th. Royal Bank of Canada raised their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Finally, CIBC raised their price objective on Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, January 29th.

Institutional Investors Weigh In On Brookfield Asset Management

Several large investors have recently made changes to their positions in the business. American Century Companies Inc. increased its position in shares of Brookfield Asset Management by 0.7% during 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 purchasing an additional 268 shares during the last quarter. NBC Securities Inc. increased its holdings in Brookfield Asset Management by 4.7% in the 4th quarter. NBC Securities Inc. now owns 6,139 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 277 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Brookfield Asset Management by 35.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,057 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 277 shares during the last quarter. Jackson Hole Capital Partners LLC increased its holdings in Brookfield Asset Management by 3.1% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 9,770 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 291 shares during the last quarter. Finally, Guardian Wealth Management Inc. increased its holdings in Brookfield Asset Management by 0.6% in the 1st quarter. Guardian Wealth Management Inc. now owns 54,530 shares of the financial services provider’s stock worth $3,085,000 after acquiring an additional 313 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Down 2.1 %

Shares of BAM opened at $38.54 on Friday. Brookfield Asset Management has a 12-month low of $28.35 and a 12-month high of $43.00. The business’s fifty day moving average is $41.10 and its 200 day moving average is $37.42. The stock has a market cap of $15.92 billion, a P/E ratio of 34.11, a P/E/G ratio of 1.52 and a beta of 1.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. The company had revenue of $1.13 billion for the quarter. During the same quarter in the prior year, the business earned $0.31 earnings per share. On average, analysts expect that Brookfield Asset Management will post 1.49 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were given a dividend of $0.38 per share. The ex-dividend date was Wednesday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 3.94%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 134.51%.

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.