Analysts Set Brookfield Asset Management Ltd. (NYSE:BAM) PT at $60.41

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been assigned a consensus rating of “Hold” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $60.0312.

A number of research firms have recently weighed in on BAM. JPMorgan Chase & Co. dropped their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Scotiabank reiterated an “outperform” rating and set a $57.00 price target (up from $56.00) on shares of Brookfield Asset Management in a report on Monday, May 11th. Weiss Ratings cut shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Royal Bank Of Canada dropped 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 report on Monday, May 11th. Finally, Piper Sandler reissued a “neutral” rating and issued a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $45.76 on Friday. Brookfield Asset Management has a 1 year low of $42.20 and a 1 year high of $64.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $74.96 billion, a PE ratio of 29.71, a P/E/G ratio of 1.91 and a beta of 1.29. The company’s 50 day simple moving average is $47.03 and its two-hundred day simple moving average is $47.88.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. Analysts predict that Brookfield Asset Management will post 1.73 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 yield of 4.4%. Brookfield Asset Management’s payout ratio is 130.52%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in shares of Brookfield Asset Management during the first quarter valued at $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Brookfield Asset Management by 10.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock worth $12,648,000 after purchasing an additional 24,013 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Brookfield Asset Management by 24.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock valued at $139,000 after purchasing an additional 497 shares during the last quarter. Cerity Partners LLC grew its position in Brookfield Asset Management by 17.6% during the 2nd quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock valued at $1,916,000 after purchasing an additional 5,184 shares during the last quarter. Finally, State Street Corp grew its position in Brookfield Asset Management by 11,172.2% during the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after purchasing an additional 3,493,431 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

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.