Brookfield Asset Management Ltd. (NYSE:BAM) Receives Consensus Recommendation of “Hold” from Brokerages

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has received an average recommendation of “Hold” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $44.19.

BAM has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 price objective for the company. The Goldman Sachs Group upped their price objective on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, September 30th. CIBC upped their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. Scotiabank lowered their price objective on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research note on Thursday, August 8th. Finally, TD Securities upped their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. National Bank of Canada FI boosted its holdings in Brookfield Asset Management by 15.5% in the first quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock worth $31,742,000 after purchasing an additional 107,245 shares during the last quarter. Partners Value Investments L.P. boosted its holdings in Brookfield Asset Management by 0.9% in the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after purchasing an additional 280,098 shares during the last quarter. Confluence Investment Management LLC raised its position in Brookfield Asset Management by 382.6% in the second quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock worth $3,420,000 after acquiring an additional 71,263 shares during the period. Prudential PLC raised its position in Brookfield Asset Management by 20.0% in the fourth quarter. Prudential PLC now owns 223,536 shares of the financial services provider’s stock worth $8,979,000 after acquiring an additional 37,212 shares during the period. Finally, O Shaughnessy Asset Management LLC bought a new position in Brookfield Asset Management in the first quarter worth approximately $3,014,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 0.7 %

Shares of NYSE:BAM opened at $47.78 on Friday. The stock has a market cap of $21.20 billion, a PE ratio of 44.24, a PEG ratio of 2.36 and a beta of 1.56. The company’s fifty day moving average is $42.94 and its 200 day moving average is $40.85. Brookfield Asset Management has a 52 week low of $28.35 and a 52 week high of $48.15.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The business had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned $0.28 EPS. Sell-side analysts anticipate that Brookfield Asset Management will post 1.42 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

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.