Brookfield Asset Management Ltd. (NYSE:BAM) Stock Has Consensus Price Target of $58.65 According to Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have earned a consensus recommendation of “Hold” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $57.57.

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company started coverage on shares of Brookfield Asset Management in a research report on Friday, October 2nd. They issued an “overweight” rating and a $41.00 price target for the company. Scotia increased their target price on Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Brookfield Asset Management in a research note on Wednesday, August 12th. Bank of America decreased their target price on shares of Brookfield Asset Management from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Sunday.

Brookfield Asset Management Trading Up 1.2%

Shares of BAM stock opened at $45.27 on Wednesday. Brookfield Asset Management has a 12-month low of $42.20 and a 12-month high of $59.33. The company has a market capitalization of $74.17 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.83 and a beta of 1.31. The firm has a 50 day moving average price of $49.24 and a two-hundred day moving average price of $47.63. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06.

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 for the quarter, compared to the consensus estimate 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, analysts predict that Brookfield Asset Management will post 1.78 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were paid a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Monday, August 31st. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 116.86%.

Institutional Trading of Brookfield Asset Management

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Crescent Grove Advisors LLC raised its stake in Brookfield Asset Management by 4.3% in the fourth quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider’s stock valued at $251,000 after purchasing an additional 200 shares in the last quarter. Hanson & Doremus Investment Management increased its holdings in shares of Brookfield Asset Management by 19.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 1,548 shares of the financial services provider’s stock worth $69,000 after buying an additional 250 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Brookfield Asset Management by 22.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,674 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 304 shares during the last quarter. NewEdge Wealth LLC lifted its holdings in shares of Brookfield Asset Management by 6.4% during the 1st quarter. NewEdge Wealth LLC now owns 5,739 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 344 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in Brookfield Asset Management by 16.0% during the second quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 408 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.