Brookfield Asset Management Ltd. (NYSE:BAM) Given Average Recommendation of “Hold” by Brokerages

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has received an average recommendation of “Hold” from the eighteen ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $60.2059.

BAM has been the subject of a number of recent research reports. Scotiabank reissued an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Weiss Ratings lowered Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. Morgan Stanley lowered their target price on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. Finally, Canadian Imperial Bank of Commerce set a $62.50 target price on Brookfield Asset Management in a research note on Monday, May 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BAM. AQR Capital Management LLC purchased a new position in Brookfield Asset Management during the 1st quarter valued at about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Brookfield Asset Management by 10.1% during 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 valued at $12,648,000 after purchasing an additional 24,013 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings 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 period. Cerity Partners LLC increased its holdings 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 period. Finally, State Street Corp increased its holdings 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 period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 0.9%

Shares of BAM stock opened at $48.17 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $46.88 and a two-hundred day moving average price of $49.46. Brookfield Asset Management has a 12-month low of $42.20 and a 12-month high of $64.10. The firm has a market cap of $78.91 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 1.95 and a beta of 1.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.43 billion. Equities analysts anticipate that Brookfield Asset Management will post 1.75 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s payout ratio is currently 130.52%.

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.