Brookfield Asset Management Ltd. (NYSE:BAM) Stock Has Average Target Price of $58.65

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have received an average rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $58.11.

A number of equities analysts have commented on BAM shares. Piper Sandler reissued a “neutral” rating and set a $50.00 target price (down from $53.00) on shares of Brookfield Asset Management in a report on Friday, September 18th. Wells Fargo & Company set a $51.00 price objective on Brookfield Asset Management and gave the company an “overweight” rating in a report on Thursday. Royal Bank Of Canada set a $65.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research report on Friday, September 18th. UBS Group boosted their price objective on Brookfield Asset Management from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th.

Brookfield Asset Management Stock Up 0.6%

Shares of BAM opened at $44.81 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $73.41 billion, a P/E ratio of 26.05, a P/E/G ratio of 1.82 and a beta of 1.31. The firm has a fifty day moving average price of $49.36 and a 200-day moving average price of $47.59. Brookfield Asset Management has a 12-month low of $42.20 and a 12-month high of $59.33.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.47 billion. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. Equities research analysts expect that Brookfield Asset Management will post 1.78 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were given a $0.5025 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $2.01 annualized dividend and a dividend yield of 4.5%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 116.86%.

Institutional Trading of Brookfield Asset Management

Several hedge funds and other institutional investors have recently bought and sold shares of BAM. Crescent Grove Advisors LLC increased its position in Brookfield Asset Management by 4.3% during the 4th quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 200 shares in the last quarter. Hanson & Doremus Investment Management raised its position in shares of Brookfield Asset Management by 19.3% during the first quarter. Hanson & Doremus Investment Management now owns 1,548 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 250 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Brookfield Asset Management by 22.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,674 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 304 shares in the last quarter. NewEdge Wealth LLC grew its position in shares of Brookfield Asset Management by 6.4% during the 1st quarter. NewEdge Wealth LLC now owns 5,739 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 344 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Brookfield Asset Management by 16.0% during the 2nd quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider’s stock valued at $133,000 after buying an additional 408 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.