Brookfield Asset Management Ltd. (NYSE:BAM) Receives $61.76 Consensus Price Target from Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have earned a consensus rating of “Hold” from the eighteen research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $61.7647.

A number of analysts recently weighed in on the stock. Loop Capital set a $60.00 price objective on shares of Brookfield Asset Management in a research report on Tuesday, January 6th. Scotiabank reduced their price objective on shares of Brookfield Asset Management from $64.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. UBS Group set a $52.00 price objective on shares of Brookfield Asset Management in a research report on Friday, February 20th. Morgan Stanley reduced their price objective on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $48.40 on Friday. 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 has a 1-year low of $42.20 and a 1-year high of $64.10. The firm has a market capitalization of $79.29 billion, a P/E ratio of 31.84, a price-to-earnings-growth ratio of 1.96 and a beta of 1.28. The company’s 50-day moving average is $45.88 and its 200 day moving average is $50.20.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Research analysts forecast that Brookfield Asset Management will post 1.74 EPS for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds have recently added to or reduced their stakes in BAM. AQR Capital Management LLC bought a new position in Brookfield Asset Management in the 1st quarter worth about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Brookfield Asset Management by 10.1% in 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 worth $12,648,000 after acquiring an additional 24,013 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Brookfield Asset Management by 24.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 497 shares in the last quarter. Cerity Partners LLC grew its stake in Brookfield Asset Management by 17.6% in the 2nd quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock worth $1,916,000 after acquiring an additional 5,184 shares in the last quarter. Finally, State Street Corp grew its stake in Brookfield Asset Management by 11,172.2% in the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock worth $194,845,000 after acquiring an additional 3,493,431 shares in the last quarter. 68.41% of the stock is currently owned by 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.