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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have earned a consensus rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $42.50.

Several equities analysts have commented on BAM shares. BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, February 8th. Royal Bank of Canada raised their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Scotiabank raised their target price on Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 8th. HSBC cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, TD Securities dropped their price target on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a report on Tuesday, January 9th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BAM. YHB Investment Advisors Inc. purchased a new stake in shares of Brookfield Asset Management during the 1st quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 758 shares during the period. Quent Capital LLC raised its stake in Brookfield Asset Management by 62.4% during the 1st quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 435 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Brookfield Asset Management by 106.4% in the 3rd quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 764 shares during the period. Finally, Bfsg LLC acquired a new position in Brookfield Asset Management during the fourth quarter worth $51,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $39.78 on Wednesday. The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 1.51 and a beta of 1.72. Brookfield Asset Management has a 1-year low of $28.35 and a 1-year high of $43.00. The company has a 50 day moving average price of $40.61 and a 200 day moving average price of $38.20.

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

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.