Brokerages Set Brookfield Asset Management Ltd. (NYSE:BAM) Target Price at $53.88

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given an average rating of “Hold” by the thirteen research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $54.54.

Several analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Brookfield Asset Management from $49.00 to $57.00 and gave the stock an “underperform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Royal Bank of Canada lifted their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st.

Brookfield Asset Management Stock Up 0.4 %

Shares of BAM stock opened at $54.42 on Thursday. The firm has a 50 day moving average of $55.11 and a two-hundred day moving average of $46.38. The stock has a market capitalization of $24.11 billion, a PE ratio of 48.16, a P/E/G ratio of 2.43 and a beta of 1.41. Brookfield Asset Management has a 52 week low of $37.19 and a 52 week high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same period in the previous year, the firm posted $0.35 EPS. Analysts expect that Brookfield Asset Management will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.79%. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. My Legacy Advisors LLC purchased a new position in shares of Brookfield Asset Management during the second quarter worth about $207,000. Sather Financial Group Inc raised its stake in shares of Brookfield Asset Management by 10.8% during the second quarter. Sather Financial Group Inc now owns 489,832 shares of the financial services provider’s stock worth $18,638,000 after purchasing an additional 47,913 shares during the last quarter. Rezny Wealth Management Inc. acquired a new stake in shares of Brookfield Asset Management during the second quarter worth $1,287,000. Bank of New York Mellon Corp grew its position in Brookfield Asset Management by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,570 shares of the financial services provider’s stock valued at $24,298,000 after buying an additional 5,368 shares during the last quarter. Finally, West Bancorporation Inc. acquired a new position in Brookfield Asset Management in the 2nd quarter valued at $4,464,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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.