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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $62.06.

Several research firms have recently issued reports on BAM. Piper Sandler began coverage on shares of Brookfield Asset Management in a report on Monday, June 30th. They issued a “neutral” rating and a $60.00 price objective for the company. Morgan Stanley increased their price objective on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an “equal weight” rating in a report on Friday, May 16th. Scotiabank reiterated an “outperform” rating and issued a $66.00 price objective (down from $69.00) on shares of Brookfield Asset Management in a report on Wednesday. National Bankshares set a $71.00 price objective on shares of Brookfield Asset Management and gave the company an “outperform” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th.

Brookfield Asset Management Price Performance

NYSE BAM opened at $61.64 on Friday. Brookfield Asset Management has a 52 week low of $38.18 and a 52 week high of $63.53. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. The stock has a market cap of $100.94 billion, a price-to-earnings ratio of 43.72, a price-to-earnings-growth ratio of 2.39 and a beta of 1.43. The company has a 50-day moving average price of $57.20 and a two-hundred day moving average price of $54.80.

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

Brookfield Asset Management Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, May 30th. Brookfield Asset Management’s dividend payout ratio is 124.11%.

Institutional Investors Weigh In On Brookfield Asset Management

Hedge funds have recently made changes to their positions in the company. Kirr Marbach & Co. LLC IN increased its stake in Brookfield Asset Management by 0.6% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider’s stock valued at $1,715,000 after buying an additional 203 shares during the period. Lincoln Capital LLC increased its stake in 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 buying an additional 210 shares during the period. RE Dickinson Investment Advisors LLC increased its stake in Brookfield Asset Management by 3.2% in the 4th quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider’s stock valued at $377,000 after buying an additional 215 shares during the period. Focus Financial Network Inc. increased its stake in Brookfield Asset Management by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider’s stock valued at $215,000 after buying an additional 218 shares during the period. Finally, Private Trust Co. NA increased its stake in Brookfield Asset Management by 22.5% in the 2nd quarter. Private Trust Co. NA now owns 1,532 shares of the financial services provider’s stock valued at $85,000 after buying an additional 281 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

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.