Brookfield Asset Management Ltd. (NYSE:BAM) Stock Has Consensus Target Price of $57.03 According to Analysts

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $57.03.

A number of brokerages have recently weighed in on BAM. Royal Bank Of Canada set a $65.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research note on Friday, September 18th. Morgan Stanley set a $54.00 price objective on shares of Brookfield Asset Management in a research report on Friday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. UBS Group decreased their target price on shares of Brookfield Asset Management from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Finally, Scotiabank restated an “outperform” rating and issued a $59.00 price objective on shares of Brookfield Asset Management in a report on Thursday, August 6th.

Institutional Trading of Brookfield Asset Management

Several institutional investors have recently made changes to their positions in the business. Trust Co. of Vermont bought a new stake in shares of Brookfield Asset Management in the 2nd quarter worth about $25,000. Alpine Bank Wealth Management bought a new stake in shares of Brookfield Asset Management during the third quarter valued at approximately $26,000. Compass Financial Management LLC bought a new position in Brookfield Asset Management in the second quarter worth approximately $27,000. Allied Private Wealth LLC bought a new position in Brookfield Asset Management in the second quarter worth approximately $40,000. Finally, Root Financial Partners LLC bought a new position in Brookfield Asset Management in the third quarter worth approximately $50,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

NYSE BAM opened at $46.79 on Friday. Brookfield Asset Management has a 1-year low of $42.20 and a 1-year high of $56.37. The stock has a 50-day moving average of $47.40 and a 200-day moving average of $47.93.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. As a group, equities research analysts forecast that Brookfield Asset Management will post 1.77 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were issued a $0.5025 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.