Brookfield Asset Management Ltd. (NYSE:BAM) Receives $63.94 Average Target Price from Brokerages

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given an average recommendation of “Hold” by the seventeen analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $64.00.

BAM has been the subject of several research reports. UBS Group set a $58.00 price objective on shares of Brookfield Asset Management and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. National Bank Financial lowered their target price on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Loop Capital set a $60.00 price target on Brookfield Asset Management in a research note on Tuesday, January 6th. Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Royal Bank Of Canada set a $74.00 target price on Brookfield Asset Management and gave the stock an “outperform” rating in a report on Monday, December 15th.

Institutional Investors Weigh In On Brookfield Asset Management

A number of large investors have recently added to or reduced their stakes in BAM. Cumberland Partners Ltd lifted its position in Brookfield Asset Management by 78.0% during the third quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock valued at $7,168,000 after buying an additional 55,225 shares during the period. New York State Common Retirement Fund increased its position in shares of Brookfield Asset Management by 18.5% during the 3rd quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock valued at $26,511,000 after purchasing an additional 72,600 shares during the last quarter. Intact Investment Management Inc. raised its position in Brookfield Asset Management by 127.5% in the third quarter. Intact Investment Management Inc. now owns 590,560 shares of the financial services provider’s stock worth $33,612,000 after acquiring an additional 330,970 shares during the period. Nicola Wealth Management LTD. raised its stake in shares of Brookfield Asset Management by 115.4% in the third quarter. Nicola Wealth Management LTD. now owns 216,558 shares of the financial services provider’s stock worth $12,325,000 after buying an additional 116,000 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Brookfield Asset Management by 1.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 430,081 shares of the financial services provider’s stock worth $23,774,000 after acquiring an additional 6,728 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 4.3%

Shares of Brookfield Asset Management stock opened at $50.07 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97. The business has a fifty day simple moving average of $52.16 and a two-hundred day simple moving average of $54.99. Brookfield Asset Management has a 1 year low of $41.78 and a 1 year high of $64.10. The company has a market capitalization of $82.01 billion, a price-to-earnings ratio of 32.94, a P/E/G ratio of 1.93 and a beta of 1.40.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. Research analysts forecast that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, February 27th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 115.13%.

About Brookfield Asset Management

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.