Brokerages Set Brookfield Asset Management Ltd. (NYSE:BAM) PT at $58.65

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has received an average recommendation of “Hold” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $58.6538.

A number of research analysts recently commented on BAM shares. Morgan Stanley set a $56.00 price objective on Brookfield Asset Management and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Scotia raised their target price on 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. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a research report on Monday, May 11th. UBS Group increased their price objective on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently made changes to their positions in the business. Trust Co. of Vermont bought a new stake in shares of Brookfield Asset Management in the 2nd quarter worth $25,000. Zions Bancorporation National Association UT boosted its stake in Brookfield Asset Management by 241.3% during the fourth 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 in the last quarter. Compass Financial Management LLC bought a new position in Brookfield Asset Management during the second quarter valued at about $27,000. Allied Private Wealth LLC acquired a new position in Brookfield Asset Management during the second quarter worth about $40,000. Finally, Allworth Financial LP grew its holdings in Brookfield Asset Management by 47.8% during the fourth quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 333 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $50.57 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $49.69 and its two-hundred day moving average price is $47.78. Brookfield Asset Management has a 52-week low of $42.20 and a 52-week high of $62.57. The stock has a market capitalization of $82.84 billion, a P/E ratio of 29.40, a P/E/G ratio of 2.07 and a beta of 1.27.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.47 billion. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. As a group, sell-side analysts forecast that Brookfield Asset Management will post 1.77 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.5025 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.01 annualized dividend and a dividend yield of 4.0%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 116.86%.

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.