Brookfield Asset Management Ltd. (BAM) – What Are Brokerages Saying About This Stock?

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $57.03.

BAM has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Piper Sandler set a $49.00 price target on Brookfield Asset Management and gave the stock a “neutral” rating in a research report on Monday, October 19th. Morgan Stanley set a $54.00 price target on Brookfield Asset Management in a research report on Friday, October 16th. Bank of America cut their price target on Brookfield Asset Management from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Finally, UBS Group reduced their price objective on Brookfield Asset Management from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Brookfield Asset Management by 62.0% in the first quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock valued at $566,092,000 after purchasing an additional 4,872,090 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield Asset Management by 15.6% during the first quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider’s stock valued at $236,308,000 after buying an additional 716,892 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in shares of Brookfield Asset Management by 6.3% during the second quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider’s stock worth $227,422,000 after buying an additional 294,966 shares during the period. Bank of America Corp DE boosted its position in shares of Brookfield Asset Management by 11.0% during the first quarter. Bank of America Corp DE now owns 3,448,351 shares of the financial services provider’s stock worth $153,279,000 after buying an additional 341,600 shares during the period. Finally, Madison Asset Management LLC acquired a new position in shares of Brookfield Asset Management during the second quarter worth approximately $70,433,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Up 2.5%

BAM stock opened at $48.54 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. Brookfield Asset Management has a 1-year low of $42.20 and a 1-year high of $55.97. The firm has a fifty day moving average price of $47.24 and a two-hundred day moving average price of $47.88. The firm has a market cap of $79.53 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 2.00 and a beta of 1.31.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Research analysts predict that Brookfield Asset Management will post 1.77 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were paid a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, August 31st. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 116.86%.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.