Analysts Set Brookfield Asset Management Ltd. (NYSE:BAM) PT at $47.41

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given an average recommendation of “Hold” by the eleven research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $48.32.

BAM has been the topic of several research reports. Wells Fargo & Company boosted their price target on Brookfield Asset Management from $42.00 to $48.00 and gave the stock an “underweight” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their price target on Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. BMO Capital Markets boosted their price target on Brookfield Asset Management from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. CIBC upped their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Finally, The Goldman Sachs Group upped their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, September 30th.

Brookfield Asset Management Stock Up 0.3 %

BAM stock opened at $53.19 on Wednesday. The company has a market cap of $23.63 billion, a PE ratio of 48.35, a price-to-earnings-growth ratio of 2.58 and a beta of 1.56. The business has a 50-day simple moving average of $46.92 and a 200 day simple moving average of $42.16. Brookfield Asset Management has a 52 week low of $29.83 and a 52 week high of $54.20.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same quarter in the prior year, the firm earned $0.28 EPS. On average, analysts anticipate that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 2.86%. Brookfield Asset Management’s dividend payout ratio (DPR) is 138.18%.

Institutional Trading of Brookfield Asset Management

A number of institutional investors have recently added to or reduced their stakes in BAM. Hara Capital LLC purchased a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at about $27,000. Massmutual Trust Co. FSB ADV grew its position in shares of Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after buying an additional 385 shares during the last quarter. Continuum Advisory LLC grew its position in shares of Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after buying an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position 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 worth $37,000 after buying an additional 758 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its stake in shares of Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 755 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

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.