Brookfield Asset Management Ltd. (NYSE:BAM) Receives Consensus Rating of “Hold” from Brokerages

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $56.58.

A number of brokerages recently issued reports on BAM. Wells Fargo & Company cut their target price on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. The Goldman Sachs Group lifted their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada upped their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Keefe, Bruyette & Woods cut their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th.

Hedge Funds Weigh In On Brookfield Asset Management

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after acquiring an additional 168,170 shares during the period. Avior Wealth Management LLC increased its stake in shares of Brookfield Asset Management by 2,857.1% during the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Brookfield Asset Management by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock worth $39,516,000 after purchasing an additional 45,670 shares during the period. LGT Capital Partners LTD. lifted its stake in Brookfield Asset Management by 11.5% in the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock valued at $25,273,000 after purchasing an additional 55,000 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Brookfield Asset Management by 10.3% during the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $55.59 on Friday. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61. The business’s 50 day simple moving average is $56.49 and its two-hundred day simple moving average is $50.77. The firm has a market cap of $24.63 billion, a P/E ratio of 49.19, a PEG ratio of 2.18 and a beta of 1.46.

Brookfield Asset Management Company Profile

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.