Brookfield Asset Management Ltd. (NYSE:BAM) Receives Consensus Rating of “Hold” from Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have received a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $54.38.

BAM has been the topic of a number of research analyst reports. Royal Bank of Canada increased their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Scotiabank boosted their target price on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group upped their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th.

Institutional Trading of Brookfield Asset Management

Several large investors have recently modified their holdings of BAM. Mackenzie Financial Corp raised its position in Brookfield Asset Management by 19.5% during the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after purchasing an additional 2,205,040 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Brookfield Asset Management by 0.5% during the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after buying an additional 43,134 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Brookfield Asset Management by 0.3% during the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after acquiring an additional 24,409 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Brookfield Asset Management by 68.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after acquiring an additional 2,788,611 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after acquiring an additional 370,383 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Trading Up 0.9 %

Shares of NYSE BAM opened at $55.56 on Monday. The business has a 50-day moving average of $55.83 and a 200-day moving average of $48.47. The firm has a market capitalization of $24.62 billion, a price-to-earnings ratio of 49.17, a PEG ratio of 1.75 and a beta of 1.45. Brookfield Asset Management has a 12 month low of $37.29 and a 12 month high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the previous year, the business posted $0.35 earnings per share. On average, analysts predict that Brookfield Asset Management will post 1.45 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

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.