Brookfield Asset Management Ltd. (NYSE:BAM) Receives Average Rating of “Hold” from Analysts

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has received a consensus recommendation of “Hold” from the eighteen brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $60.2059.

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada dropped their price target on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Scotiabank restated an “outperform” rating and set a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. Finally, Zacks Research lowered shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Western Wealth Management LLC bought a new position in shares of Brookfield Asset Management during the first quarter worth $280,000. Empowered Funds LLC bought a new position in shares of Brookfield Asset Management during the first quarter worth $255,000. Rathbones Group PLC lifted its position in Brookfield Asset Management by 13.6% during the first quarter. Rathbones Group PLC now owns 70,118 shares of the financial services provider’s stock valued at $3,108,000 after purchasing an additional 8,411 shares during the last quarter. Summitry LLC lifted its position in Brookfield Asset Management by 3.3% during the first quarter. Summitry LLC now owns 167,381 shares of the financial services provider’s stock valued at $7,440,000 after purchasing an additional 5,291 shares during the last quarter. Finally, Essential Partners LLC lifted its position in Brookfield Asset Management by 3,621.0% during the first quarter. Essential Partners LLC now owns 2,307 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 2,245 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

BAM opened at $44.66 on Monday. The firm has a market cap of $73.16 billion, a P/E ratio of 29.00, a PEG ratio of 1.79 and a beta of 1.26. Brookfield Asset Management has a 1-year low of $42.20 and a 1-year high of $64.10. The company has a 50 day simple moving average of $47.67 and a two-hundred day simple moving average of $48.77. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. Equities analysts forecast that Brookfield Asset Management will post 1.75 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.5025 per share. The ex-dividend date is Friday, May 29th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.5%. Brookfield Asset Management’s dividend payout ratio is currently 130.52%.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.