Brookfield Asset Management Ltd. (NYSE:BAM) Receives $59.50 Consensus Price Target from Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have received an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $59.3214.

Several equities research analysts have recently commented on the stock. Scotia boosted their target price on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the company a “sector outperform” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Royal Bank Of Canada cut their price target on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Scotiabank restated an “outperform” rating and issued a $59.00 price target on shares of Brookfield Asset Management in a research report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $52.67 on Tuesday. The business has a 50 day simple moving average of $48.23 and a 200 day simple moving average of $47.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $86.28 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. Brookfield Asset Management has a one year low of $42.20 and a one year high of $62.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.47 billion. On average, sell-side analysts forecast that Brookfield Asset Management will post 1.78 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Asset Management’s payout ratio is presently 116.86%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new position in Brookfield Asset Management in the first quarter worth $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Brookfield Asset Management by 10.1% during the first 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 purchasing an additional 24,013 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Brookfield Asset Management by 24.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock valued at $139,000 after buying an additional 497 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Brookfield Asset Management by 17.6% in the second quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock valued at $1,916,000 after buying an additional 5,184 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Brookfield Asset Management by 11,172.2% in the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after buying an additional 3,493,431 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

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.