Brokerages Set Brookfield Asset Management Ltd. (NYSE:BAM) Target Price at $60.21

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has earned an average rating of “Hold” from the eighteen analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $60.2059.

Several analysts have recently commented on the stock. Canadian Imperial Bank of Commerce set a $62.50 price objective on shares of Brookfield Asset Management in a research report on Monday, May 11th. Morgan Stanley cut their target price on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. Weiss Ratings cut shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. Zacks Research cut shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th.

Hedge Funds Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently made changes to their positions in the business. Zions Bancorporation National Association UT grew its stake in shares of Brookfield Asset Management by 241.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after buying an additional 345 shares in the last quarter. LOM Asset Management Ltd purchased a new position in shares of Brookfield Asset Management in the 4th quarter worth $31,000. eCIO Inc. purchased a new position in shares of Brookfield Asset Management during the 4th quarter worth about $42,000. Assetmark Inc. boosted its stake in shares of Brookfield Asset Management by 95.9% during the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 395 shares during the period. Finally, Cary Street Partners Financial LLC boosted its stake in shares of Brookfield Asset Management by 227.5% during the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 562 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Down 0.7%

Shares of Brookfield Asset Management stock opened at $48.69 on Thursday. The company has a market cap of $79.75 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 1.95 and a beta of 1.28. The company’s 50 day moving average is $46.78 and its 200 day moving average is $49.53. Brookfield Asset Management has a twelve month low of $42.20 and a twelve month high of $64.10. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.43 billion. Research analysts anticipate that Brookfield Asset Management will post 1.75 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be paid a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 130.52%.

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.