Brokerages Set Brookfield Asset Management Ltd. (NYSE:BAM) Price Target at $61.82

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the company, Marketbeat reports. Two 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 brokers that have issued a report on the stock in the last year is $61.8235.

A number of brokerages have recently commented on BAM. Morgan Stanley set a $63.00 target price on shares of Brookfield Asset Management in a report on Tuesday, February 17th. JPMorgan Chase & Co. lifted their target price on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. BMO Capital Markets raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Loop Capital set a $60.00 target price on shares of Brookfield Asset Management in a report on Tuesday, January 6th. Finally, Zacks Research cut shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $47.49 on Wednesday. The firm’s fifty day simple moving average is $46.75 and its 200-day simple moving average is $51.04. The stock has a market capitalization of $77.80 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 1.89 and a beta of 1.38. Brookfield Asset Management has a 12 month low of $42.20 and a 12 month high of $64.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.92.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. As a group, equities analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, February 27th were given a $0.5025 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, February 27th. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. Brookfield Asset Management’s payout ratio is 132.24%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently bought and sold shares of BAM. Zions Bancorporation National Association UT grew its position in Brookfield Asset Management by 241.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after buying an additional 345 shares during the last quarter. LOM Asset Management Ltd purchased a new position in Brookfield Asset Management in the 4th quarter valued at $31,000. Sagard Holdings Management Inc. purchased a new position in Brookfield Asset Management in the 2nd quarter valued at $39,000. eCIO Inc. purchased a new position in Brookfield Asset Management in the 4th quarter valued at $42,000. Finally, Assetmark Inc. grew its position in Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after buying an additional 395 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

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.