Brookfield Asset Management Ltd. (NYSE:BAM) Given Average Rating of “Moderate Buy” by Brokerages

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $58.04.

A number of research analysts recently commented on the company. UBS Group initiated coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. Scotiabank lowered their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, February 13th. TD Securities raised their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th.

Institutional Investors Weigh In On Brookfield Asset Management

Hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc grew its holdings in Brookfield Asset Management by 231.4% during the 1st quarter. Versant Capital Management Inc now owns 2,714 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 1,895 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Brookfield Asset Management by 7.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 42,148 shares of the financial services provider’s stock valued at $2,284,000 after buying an additional 2,914 shares during the last quarter. Castle Rock Wealth Management LLC raised its stake in Brookfield Asset Management by 5.7% in the fourth quarter. Castle Rock Wealth Management LLC now owns 31,786 shares of the financial services provider’s stock valued at $1,902,000 after buying an additional 1,709 shares in the last quarter. Capital A Wealth Management LLC purchased a new stake in Brookfield Asset Management during the 4th quarter worth about $412,000. Finally, Ascent Group LLC increased its holdings in shares of Brookfield Asset Management by 6.5% in the 4th quarter. Ascent Group LLC now owns 10,818 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 662 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 6.0 %

Shares of NYSE:BAM opened at $44.21 on Friday. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61. The business has a fifty day moving average of $53.89 and a two-hundred day moving average of $53.64. The stock has a market cap of $72.39 billion, a P/E ratio of 33.49, a PEG ratio of 1.92 and a beta of 1.62.

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

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.96%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Asset Management’s payout ratio is presently 132.58%.

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.