Analysts Set Brookfield Asset Management Ltd. (NYSE:BAM) Target Price at $64.02

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have earned an average rating of “Moderate Buy” from the twenty brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, nine have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $64.2656.

BAM has been the topic of several research reports. Jefferies Financial Group boosted their target price on Brookfield Asset Management from $55.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, August 13th. Morgan Stanley set a $62.00 target price on Brookfield Asset Management in a report on Monday, October 13th. Bank of America downgraded Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 target price on the stock. in a report on Thursday, September 4th. National Bank Financial assumed coverage on Brookfield Asset Management in a report on Tuesday, July 29th. They issued an “outperform” rating and a $71.00 target price on the stock. Finally, National Bankshares set a $71.00 target price on Brookfield Asset Management and gave the stock an “outperform” rating in a report on Tuesday, July 29th.

Brookfield Asset Management Stock Up 0.1%

Shares of Brookfield Asset Management stock opened at $54.65 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. Brookfield Asset Management has a 52-week low of $41.78 and a 52-week high of $64.10. The stock has a market capitalization of $89.51 billion, a price-to-earnings ratio of 36.68, a P/E/G ratio of 2.04 and a beta of 1.39. The company’s 50 day moving average price is $58.39 and its 200-day moving average price is $56.65.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Equities research analysts forecast that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a $0.4375 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.75 annualized dividend and a dividend yield of 3.2%. Brookfield Asset Management’s payout ratio is currently 117.45%.

Institutional Trading of Brookfield Asset Management

Several hedge funds have recently bought and sold shares of BAM. GAMMA Investing LLC grew its holdings in Brookfield Asset Management by 4,745.0% during the first quarter. GAMMA Investing LLC now owns 18,750 shares of the financial services provider’s stock valued at $908,000 after purchasing an additional 18,363 shares during the period. Assenagon Asset Management S.A. grew its holdings in Brookfield Asset Management by 157.3% during the first quarter. Assenagon Asset Management S.A. now owns 10,183 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 6,225 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Brookfield Asset Management by 2.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,002 shares of the financial services provider’s stock worth $2,083,000 after acquiring an additional 854 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Brookfield Asset Management by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 221,222 shares of the financial services provider’s stock worth $10,718,000 after acquiring an additional 8,415 shares during the period. Finally, Louisbourg Investments Inc. boosted its stake in shares of Brookfield Asset Management by 1.2% in the first quarter. Louisbourg Investments Inc. now owns 50,152 shares of the financial services provider’s stock worth $2,430,000 after acquiring an additional 600 shares during the period. 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.