Brookfield Asset Management Ltd. (NYSE:BAM) Receives $63.38 Consensus Target Price from Analysts

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have received a consensus rating of “Moderate Buy” from the twenty research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, eight have assigned 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 $63.3750.

Several research analysts have issued reports on BAM shares. Loop Capital set a $60.00 price objective on Brookfield Asset Management in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, December 22nd. Royal Bank Of Canada set a $74.00 price target on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research report on Monday, December 15th. The Goldman Sachs Group decreased their price objective on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Finally, Scotiabank cut their target price on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a research note on Monday, November 10th.

Brookfield Asset Management Stock Down 1.3%

Shares of BAM opened at $50.69 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $52.68 and a two-hundred day moving average price of $56.03. The stock has a market cap of $83.02 billion, a price-to-earnings ratio of 31.68, a P/E/G ratio of 2.18 and a beta of 1.39. Brookfield Asset Management has a 12 month low of $41.78 and a 12 month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%. Equities analysts predict that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, November 28th were given a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, November 28th. Brookfield Asset Management’s payout ratio is 109.38%.

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently made changes to their positions in BAM. Caitong International Asset Management Co. Ltd boosted its holdings in Brookfield Asset Management by 1,270.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 432 shares during the last quarter. Manchester Capital Management LLC boosted its stake in shares of Brookfield Asset Management by 559.5% in the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 442 shares during the last quarter. LOM Asset Management Ltd bought a new position in Brookfield Asset Management in the fourth quarter valued at approximately $31,000. Sagard Holdings Management Inc. acquired a new stake in Brookfield Asset Management during the 2nd quarter worth $39,000. Finally, eCIO Inc. acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at $42,000. 68.41% of the stock is owned by institutional investors and hedge funds.

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.