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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has earned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $54.54.

A number of analysts recently commented on the company. Wells Fargo & Company upped their price objective on Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, December 12th. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Bank of America upped their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Scotiabank upped their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group boosted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $54.76 on Thursday. Brookfield Asset Management has a one year low of $37.19 and a one year high of $59.58. The business’s fifty day moving average is $55.11 and its 200 day moving average is $46.43. The stock has a market capitalization of $24.26 billion, a PE ratio of 48.46, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the previous year, the business posted $0.35 earnings per share. As a group, sell-side analysts expect that Brookfield Asset Management will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.78%. Brookfield Asset Management’s payout ratio is 134.51%.

Institutional Trading of Brookfield Asset Management

Several hedge funds have recently modified their holdings of BAM. My Legacy Advisors LLC bought a new position in Brookfield Asset Management during the second quarter valued at $207,000. Sather Financial Group Inc increased its stake in Brookfield Asset Management by 10.8% during the second quarter. Sather Financial Group Inc now owns 489,832 shares of the financial services provider’s stock worth $18,638,000 after acquiring an additional 47,913 shares during the last quarter. Rezny Wealth Management Inc. purchased a new stake in Brookfield Asset Management during the second quarter valued at approximately $1,287,000. Bank of New York Mellon Corp raised its position in Brookfield Asset Management by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 638,570 shares of the financial services provider’s stock valued at $24,298,000 after purchasing an additional 5,368 shares during the period. Finally, West Bancorporation Inc. bought a new stake in shares of Brookfield Asset Management in the 2nd quarter valued at approximately $4,464,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

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.