Analysts Set Brookfield Asset Management Ltd. (NYSE:BAM) PT at $53.46

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has received a consensus rating of “Hold” from the twelve analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $53.46.

BAM has been the subject of a number of analyst reports. BMO Capital Markets lifted their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 price target for the company. Scotiabank lifted their price target on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Finally, StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently bought and sold shares of BAM. Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Asset Management during the 3rd quarter valued at $209,000. Morse Asset Management Inc purchased a new position in Brookfield Asset Management in the third quarter worth $176,000. Toronto Dominion Bank boosted its position in Brookfield Asset Management by 7.7% during the third quarter. Toronto Dominion Bank now owns 1,056,919 shares of the financial services provider’s stock valued at $49,982,000 after buying an additional 75,963 shares during the period. Geode Capital Management LLC boosted its position in Brookfield Asset Management by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after buying an additional 168,170 shares during the period. Finally, Continuum Advisory LLC boosted its position in Brookfield Asset Management by 42.2% during the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after buying an additional 329 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of BAM opened at $57.81 on Friday. The stock has a 50-day moving average of $51.61 and a 200-day moving average of $44.24. The company has a market cap of $25.61 billion, a PE ratio of 51.16, a P/E/G ratio of 2.28 and a beta of 1.42. Brookfield Asset Management has a one year low of $33.45 and a one year high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate 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 last year, the business 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.63%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

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.