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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has received an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $59.50.

A number of equities research analysts recently weighed in on BAM shares. Piper Sandler began coverage on Brookfield Asset Management in a research note on Monday, June 30th. They issued a “neutral” rating and a $60.00 price target on the stock. TD Securities increased their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Morgan Stanley lifted their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday, May 16th. Jefferies Financial Group lowered their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company boosted their price objective on Brookfield Asset Management from $54.00 to $55.00 and gave the stock an “underweight” rating in a report on Friday, May 23rd.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently bought and sold shares of the company. Kirr Marbach & Co. LLC IN lifted its holdings in shares of Brookfield Asset Management by 0.6% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider’s stock worth $1,715,000 after acquiring an additional 203 shares during the period. Lincoln Capital LLC increased its stake in shares of Brookfield Asset Management by 0.9% in the 1st quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider’s stock valued at $1,145,000 after purchasing an additional 210 shares during the last quarter. RE Dickinson Investment Advisors LLC raised its holdings in shares of Brookfield Asset Management by 3.2% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider’s stock worth $377,000 after buying an additional 215 shares in the last quarter. Focus Financial Network Inc. lifted its position in shares of Brookfield Asset Management by 5.2% during the 1st quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider’s stock worth $215,000 after buying an additional 218 shares during the last quarter. Finally, Gold Investment Management Ltd. boosted its stake in Brookfield Asset Management by 0.5% in the fourth quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock valued at $2,271,000 after buying an additional 219 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $57.12 on Monday. The company has a fifty day moving average price of $56.00 and a two-hundred day moving average price of $54.12. Brookfield Asset Management has a one year low of $37.80 and a one year high of $62.61. The stock has a market cap of $93.52 billion, a P/E ratio of 40.51, a P/E/G ratio of 2.13 and a beta of 1.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. As a group, equities analysts predict that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Friday, May 30th. Brookfield Asset Management’s payout ratio is currently 124.11%.

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.