Brookfield Asset Management (NYSE:BAM) Stock Price Down 5.1% – What’s Next?

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) dropped 5.1% on Thursday . The company traded as low as $49.92 and last traded at $51.20. Approximately 402,479 shares changed hands during trading, a decline of 68% from the average daily volume of 1,239,891 shares. The stock had previously closed at $53.97.

Analysts Set New Price Targets

BAM has been the topic of a number of analyst reports. UBS Group initiated coverage on Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating on the stock. The Goldman Sachs Group lifted their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. CIBC boosted their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, BMO Capital Markets boosted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Performance

The business’s 50 day moving average is $56.72 and its 200 day moving average is $52.66. The company has a market capitalization of $22.58 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 1.92 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.43%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s payout ratio is presently 132.58%.

Institutional Trading of Brookfield Asset Management

Institutional investors and hedge funds have recently bought and sold shares of the business. Castle Rock Wealth Management LLC increased its holdings in shares of Brookfield Asset Management by 5.7% during the 4th quarter. Castle Rock Wealth Management LLC now owns 31,786 shares of the financial services provider’s stock valued at $1,902,000 after purchasing an additional 1,709 shares in the last quarter. Capital A Wealth Management LLC purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at approximately $412,000. Ascent Group LLC increased its holdings in shares of Brookfield Asset Management by 6.5% during the 4th quarter. Ascent Group LLC now owns 10,818 shares of the financial services provider’s stock valued at $586,000 after purchasing an additional 662 shares in the last quarter. Blue Sky Capital Consultants Group Inc. purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at approximately $2,363,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Brookfield Asset Management by 26.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 43,634 shares of the financial services provider’s stock valued at $2,366,000 after purchasing an additional 9,113 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Asset Management

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.