Brookfield Asset Management Ltd. (NYSE:BAM) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAMGet Free Report) (TSE:BAM.A) have received an average recommendation of “Hold” from the twelve research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $45.13.

Several equities research analysts have commented on the company. Wells Fargo & Company upped their price target on Brookfield Asset Management from $42.00 to $48.00 and gave the stock an “underweight” rating in a research note on Wednesday. Scotiabank dropped their price target on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research note on Thursday, August 8th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Jefferies Financial Group began coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price for the company.

Get Our Latest Report on Brookfield Asset Management

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Partners Value Investments L.P. boosted its holdings in Brookfield Asset Management by 0.9% in the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock valued at $1,237,556,000 after purchasing an additional 280,098 shares during the last quarter. TD Asset Management Inc boosted its holdings in Brookfield Asset Management by 8.5% in the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after purchasing an additional 1,066,015 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after purchasing an additional 2,205,040 shares during the last quarter. FIL Ltd boosted its holdings in Brookfield Asset Management by 66.1% in the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after purchasing an additional 4,501,410 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock worth $452,153,000 after buying an additional 186,765 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 0.8 %

NYSE BAM opened at $47.43 on Friday. The business’s 50-day moving average price is $43.11 and its 200 day moving average price is $40.92. Brookfield Asset Management has a twelve month low of $28.35 and a twelve month high of $48.15. The company has a market capitalization of $21.04 billion, a PE ratio of 43.91, a price-to-earnings-growth ratio of 2.36 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAMGet Free Report) (TSE:BAM.A) last announced its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter in the prior year, the company earned $0.28 earnings per share. Equities analysts predict that Brookfield Asset Management will post 1.42 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

About Brookfield Asset Management

(Get Free Report

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.

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Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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