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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has received a consensus rating of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $56.58.

Several research analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company cut their price target on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets boosted their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. UBS Group began coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating for the company. Finally, Keefe, Bruyette & Woods lowered 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 report on Monday, January 13th.

Institutional Trading of Brookfield Asset Management

A number of hedge funds have recently made changes to their positions in BAM. Vanguard Group Inc. raised its position in Brookfield Asset Management by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock valued at $916,676,000 after purchasing an additional 263,660 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock valued at $903,323,000 after purchasing an additional 1,359,126 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Brookfield Asset Management by 0.5% during the 3rd 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 in the last quarter. Principal Financial Group Inc. lifted its position in Brookfield Asset Management by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock worth $483,963,000 after buying an additional 62,908 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Brookfield Asset Management by 103.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock worth $216,507,000 after buying an additional 2,031,995 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Down 3.4 %

Shares of NYSE:BAM opened at $55.59 on Friday. The firm has a market capitalization of $24.63 billion, a PE ratio of 49.19, a P/E/G ratio of 2.18 and a beta of 1.46. The company has a 50-day moving average price of $56.49 and a two-hundred day moving average price of $50.77. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $62.61.

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.