Brookfield Asset Management Ltd. (NYSE:BAM) Given Consensus Recommendation of “Hold” by Analysts

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned an average recommendation of “Hold” from the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $59.3214.

A number of analysts have commented on BAM shares. National Bank Financial upped their target price on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. 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 on the stock in a research note on Monday, May 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Brookfield Asset Management in a research note on Wednesday. Scotia upped their price objective on Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research note on Thursday, August 6th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 6th.

Brookfield Asset Management Price Performance

NYSE BAM opened at $54.27 on Tuesday. Brookfield Asset Management has a 52 week low of $42.20 and a 52 week high of $62.57. The firm has a market capitalization of $88.91 billion, a P/E ratio of 31.55, a PEG ratio of 2.22 and a beta of 1.26. The company has a quick ratio of 1.38, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $48.10 and a 200-day moving average price of $47.74.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. Equities research analysts anticipate that Brookfield Asset Management will post 1.78 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.5025 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.01 dividend on an annualized basis and a yield of 3.7%. Brookfield Asset Management’s dividend payout ratio is presently 116.86%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Brookfield Asset Management during the 4th quarter worth approximately $263,444,000. Principal Financial Group Inc. increased its stake in shares of Brookfield Asset Management by 62.0% in the first quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock worth $566,092,000 after purchasing an additional 4,872,090 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Brookfield Asset Management by 88,805.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider’s stock valued at $247,559,000 after purchasing an additional 4,719,999 shares during the period. State Street Corp raised its position in shares of Brookfield Asset Management by 11,172.2% during the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after purchasing an additional 3,493,431 shares during the period. Finally, GFI Investment Counsel Ltd. purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at $182,090,000. Institutional investors own 68.41% of the company’s stock.

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.