Brookfield Asset Management Ltd. (NYSE:BAM) Receives $42.20 Average PT from Analysts

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $42.20.

A number of research firms have recently weighed in on BAM. TD Securities cut their price objective on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a research note on Tuesday, January 9th. HSBC lowered shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Scotiabank raised their price target on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 8th. Royal Bank of Canada raised their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Finally, BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, February 8th.

Brookfield Asset Management Trading Down 0.3 %

NYSE BAM opened at $38.32 on Friday. The company has a fifty day simple moving average of $40.99 and a two-hundred day simple moving average of $37.52. The stock has a market cap of $15.83 billion, a P/E ratio of 33.91, a P/E/G ratio of 1.50 and a beta of 1.68. Brookfield Asset Management has a 12-month low of $28.35 and a 12-month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. During the same quarter in the previous year, the company earned $0.31 EPS. As a group, sell-side analysts forecast that Brookfield Asset Management will post 1.49 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were given a $0.38 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.52 annualized dividend and a dividend yield of 3.97%. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

Institutional Trading of Brookfield Asset Management

Several institutional investors have recently modified their holdings of BAM. Moneta Group Investment Advisors LLC grew its position in shares of Brookfield Asset Management by 30,651.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 31,097,454 shares of the financial services provider’s stock valued at $891,564,000 after purchasing an additional 30,996,329 shares during the period. Norges Bank purchased a new position in shares of Brookfield Asset Management in the fourth quarter worth about $239,421,000. FIL Ltd lifted its stake in shares of Brookfield Asset Management by 66.1% in the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock worth $454,424,000 after buying an additional 4,501,410 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Brookfield Asset Management by 166.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider’s stock worth $398,883,000 after buying an additional 4,402,115 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its stake in shares of Brookfield Asset Management by 114.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock worth $279,387,000 after buying an additional 3,695,774 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

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.