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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned an average rating of “Hold” from the twelve research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $53.46.

Several research analysts recently commented on BAM shares. Keefe, Bruyette & Woods increased their price objective on Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. TD Securities upped their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada raised their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company increased their price objective on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, November 5th.

Brookfield Asset Management Stock Up 0.5 %

Shares of NYSE BAM opened at $57.16 on Friday. Brookfield Asset Management has a 52-week low of $34.80 and a 52-week high of $58.53. The company’s 50-day simple moving average is $52.23 and its 200-day simple moving average is $44.57. The firm has a market cap of $23.99 billion, a price-to-earnings ratio of 50.58, a price-to-earnings-growth ratio of 2.35 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business earned $0.35 EPS. Equities research analysts anticipate that Brookfield Asset Management will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.66%. Brookfield Asset Management’s payout ratio is 134.51%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BAM. Hara Capital LLC acquired a new stake in shares of Brookfield Asset Management during the 3rd quarter worth about $27,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Brookfield Asset Management during the third quarter valued at about $27,000. Massmutual Trust Co. FSB ADV increased its position in shares of Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 385 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 285 shares during the period. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 755 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

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.