Brookfield Asset Management Ltd. (NYSE:BAM) Receives $60.41 Consensus Target Price from Analysts

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has earned an average rating of “Hold” from the seventeen analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $60.4062.

BAM has been the subject of several recent research reports. Royal Bank Of Canada lowered their price target on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. The Goldman Sachs Group decreased their price objective on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Canadian Imperial Bank of Commerce set a $62.50 target price on Brookfield Asset Management in a research note on Monday, May 11th. Weiss Ratings cut Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. Finally, Piper Sandler restated a “neutral” rating and set a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th.

Institutional Investors Weigh In On Brookfield Asset Management

Several institutional investors have recently added to or reduced their stakes in BAM. Zions Bancorporation National Association UT increased its position in Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 345 shares during the period. LOM Asset Management Ltd purchased a new stake in shares of Brookfield Asset Management in the 4th quarter worth about $31,000. eCIO Inc. bought a new stake in shares of Brookfield Asset Management during the 4th quarter valued at about $42,000. Allied Private Wealth LLC purchased a new position in shares of Brookfield Asset Management during the second quarter valued at about $40,000. Finally, Allworth Financial LP increased its position in shares of Brookfield Asset Management by 47.8% during the fourth quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after buying an additional 333 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 0.1%

Shares of NYSE BAM opened at $48.36 on Friday. The stock has a market capitalization of $79.22 billion, a P/E ratio of 31.40, a PEG ratio of 1.99 and a beta of 1.29. Brookfield Asset Management has a one year low of $42.20 and a one year high of $64.10. The firm’s 50 day simple moving average is $47.20 and its two-hundred day simple moving average is $48.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, topping 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 firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. As a group, analysts expect that Brookfield Asset Management will post 1.73 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a $0.5025 dividend. The ex-dividend date was Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.2%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 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.