Brookfield Asset Management Ltd. (NYSE:BAM) Receives Average Rating of “Moderate Buy” from Analysts

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given an average recommendation of “Moderate Buy” by the nineteen analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $63.5156.

BAM has been the subject of several recent research reports. Bank of America downgraded Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price objective for the company. in a research note on Thursday, September 4th. Piper Sandler lowered their target price on Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Jefferies Financial Group lifted their price objective on Brookfield Asset Management from $55.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $58.00 target price on shares of Brookfield Asset Management in a research report on Thursday, August 7th. Finally, National Bank Financial began coverage on Brookfield Asset Management in a research report on Tuesday, July 29th. They set an “outperform” rating and a $71.00 target price on the stock.

Brookfield Asset Management Stock Up 0.1%

Shares of BAM opened at $58.09 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average price of $60.20 and a 200-day moving average price of $55.69. The firm has a market capitalization of $95.14 billion, a P/E ratio of 38.99, a P/E/G ratio of 2.12 and a beta of 1.44. Brookfield Asset Management has a 12-month low of $41.78 and a 12-month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Equities research analysts expect that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 3.0%. Brookfield Asset Management’s payout ratio is 117.45%.

Institutional Trading of Brookfield Asset Management

A number of institutional investors have recently modified their holdings of BAM. Canal Capital Management LLC raised its holdings in shares of Brookfield Asset Management by 5.5% in the 2nd quarter. Canal Capital Management LLC now owns 92,046 shares of the financial services provider’s stock worth $5,088,000 after purchasing an additional 4,808 shares during the period. Osaic Holdings Inc. grew its holdings in shares of Brookfield Asset Management by 149.6% in the 2nd quarter. Osaic Holdings Inc. now owns 39,910 shares of the financial services provider’s stock worth $2,059,000 after acquiring an additional 23,923 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Brookfield Asset Management in the second quarter worth about $212,000. Advisory Services Network LLC raised its holdings in Brookfield Asset Management by 13.6% in the 2nd quarter. Advisory Services Network LLC now owns 11,856 shares of the financial services provider’s stock valued at $655,000 after acquiring an additional 1,416 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Brookfield Asset Management by 352.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 16,461 shares of the financial services provider’s stock valued at $910,000 after purchasing an additional 12,824 shares during the period. 68.41% of the stock is currently 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.