Brookfield Asset Management Ltd. (NYSE:BAM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have received an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $56.71.

Several analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. CIBC upped their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group upped their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently made changes to their positions in BAM. Hara Capital LLC acquired a new position in shares of Brookfield Asset Management during the 3rd quarter worth $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Brookfield Asset Management during the 3rd quarter worth $27,000. Truvestments Capital LLC grew its stake in shares of Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 419 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Brookfield Asset Management in the 4th quarter worth about $32,000. Finally, Versant Capital Management Inc boosted its position in shares of Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after buying an additional 771 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Down 3.1 %

Shares of Brookfield Asset Management stock opened at $48.75 on Tuesday. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61. The company has a 50 day moving average of $56.50 and a 200 day moving average of $52.79. The company has a market capitalization of $21.60 billion, a P/E ratio of 36.93, a P/E/G ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, research analysts anticipate that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.59%. Brookfield Asset Management’s dividend payout ratio is 132.58%.

Brookfield Asset Management Company Profile

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.