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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $64.3167.

Several analysts recently commented on BAM shares. Morgan Stanley set a $62.00 price target on shares of Brookfield Asset Management in a research report on Monday, October 13th. Scotiabank cut their price target on Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a research note on Monday, November 10th. Keefe, Bruyette & Woods reduced their price target on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a report on Monday, November 10th. CIBC raised their price objective on Brookfield Asset Management from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, BMO Capital Markets boosted their price objective on Brookfield Asset Management from $53.00 to $56.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Brookfield Asset Management by 1,270.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after buying an additional 432 shares during the last quarter. Manchester Capital Management LLC boosted its stake in shares of Brookfield Asset Management by 559.5% in the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 442 shares during the last quarter. Sagard Holdings Management Inc. purchased a new stake in shares of Brookfield Asset Management during the second quarter worth approximately $39,000. Assetmark Inc. raised its stake in Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 395 shares during the last quarter. Finally, Cary Street Partners Financial LLC boosted its stake in 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 last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 1.7%

Shares of BAM stock opened at $53.11 on Thursday. Brookfield Asset Management has a twelve month low of $41.78 and a twelve month high of $64.10. The stock has a market cap of $86.99 billion, a P/E ratio of 33.20, a P/E/G ratio of 1.92 and a beta of 1.39. The stock has a 50 day moving average of $54.23 and a 200 day moving average of $56.92. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.34 billion. As a group, sell-side analysts expect 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 will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Asset Management’s payout ratio is presently 109.38%.

Brookfield Asset Management Company Profile

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.