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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been assigned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $58.6538.

BAM has been the topic of several recent research reports. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. UBS Group raised their target price on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. National Bank Financial boosted their target price on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Scotiabank reaffirmed an “outperform” rating and issued a $59.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th.

Institutional Trading of Brookfield Asset Management

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. TD Asset Management Inc raised its position in Brookfield Asset Management by 2.0% during the fourth quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider’s stock valued at $827,135,000 after acquiring an additional 315,036 shares in the last quarter. Principal Financial Group Inc. boosted its position in Brookfield Asset Management by 62.0% in the 1st 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. The Manufacturers Life Insurance Company grew its stake in shares of Brookfield Asset Management by 15.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider’s stock worth $236,308,000 after purchasing an additional 716,892 shares during the period. Norges Bank acquired a new stake in shares of Brookfield Asset Management during the 4th quarter worth approximately $263,444,000. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Brookfield Asset Management by 6.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider’s stock worth $227,422,000 after purchasing an additional 294,966 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Down 2.1%

Shares of BAM stock opened at $47.82 on Friday. The stock’s 50-day simple moving average is $49.82 and its 200-day simple moving average is $47.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $78.34 billion, a PE ratio of 27.80, a P/E/G ratio of 2.00 and a beta of 1.27. Brookfield Asset Management has a fifty-two week low of $42.20 and a fifty-two week high of $62.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. Equities analysts expect that Brookfield Asset Management will post 1.77 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Asset Management’s payout ratio is 116.86%.

About Brookfield Asset Management

Brookfield Asset Management Ltd. is a global alternative asset manager that provides investment management services to institutional investors, governments, financial institutions and private-wealth clients. The company manages and invests capital on behalf of clients through a range of private and public investment strategies.

Its principal investment businesses include real estate, infrastructure, renewable power and transition, private equity, and credit. Brookfield seeks to invest in high-quality assets and businesses, often taking an active ownership and operating role.