Brokerages Set Brookfield Asset Management Ltd. (NYSE:BAM) Price Target at $42.14

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $42.14.

A number of research firms recently issued reports on BAM. JPMorgan Chase & Co. began coverage on shares of Brookfield Asset Management in a report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 target price for the company. Scotiabank lowered their price target on Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating for the company in a research report on Thursday, May 9th. Finally, 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 report on Monday, April 29th.

Hedge Funds Weigh In On Brookfield Asset Management

Several large investors have recently added to or reduced their stakes in BAM. YHB Investment Advisors Inc. acquired a new stake in shares of Brookfield Asset Management in the 1st quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Brookfield Asset Management by 574.2% during 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 purchasing an additional 758 shares in the last quarter. Quent Capital LLC grew its stake in shares of Brookfield Asset Management by 62.4% in the 1st quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 435 shares during the last quarter. Bfsg LLC acquired a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $51,000. Finally, Headlands Technologies LLC acquired a new position in shares of Brookfield Asset Management in the 1st quarter valued at $53,000. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Stock Down 0.4 %

Brookfield Asset Management stock opened at $38.05 on Thursday. The firm’s 50-day simple moving average is $39.05 and its 200 day simple moving average is $39.82. The firm has a market capitalization of $16.88 billion, a PE ratio of 35.23, a P/E/G ratio of 1.72 and a beta of 1.67. Brookfield Asset Management has a 52 week low of $28.35 and a 52 week high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $884.00 million for the quarter. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. On average, research analysts expect that Brookfield Asset Management will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.99%. The ex-dividend date was Friday, May 31st. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

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.