Analysts Set Brookfield Asset Management Ltd. (NYSE:BAM) PT at $60.21

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given an average recommendation of “Hold” by the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $60.2059.

BAM has been the topic of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. UBS Group set a $52.00 price target on Brookfield Asset Management in a research note on Friday, February 20th. Wall Street Zen cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Royal Bank Of Canada decreased their price target on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Finally, The Goldman Sachs Group decreased their price target on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds have recently made changes to their positions in the business. Zions Bancorporation National Association UT increased its stake in shares of Brookfield Asset Management by 241.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after buying an additional 345 shares during the period. LOM Asset Management Ltd purchased a new position in shares of Brookfield Asset Management during the fourth quarter valued at approximately $31,000. eCIO Inc. purchased a new position in shares of Brookfield Asset Management during the fourth quarter valued at approximately $42,000. Assetmark Inc. increased its stake in shares of Brookfield Asset Management by 95.9% during the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after buying an additional 395 shares during the period. Finally, Cary Street Partners Financial LLC increased its stake in shares of Brookfield Asset Management by 227.5% during the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock valued at $46,000 after buying an additional 562 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $45.22 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The business’s 50 day simple moving average is $47.01 and its two-hundred day simple moving average is $49.37. The stock has a market capitalization of $74.08 billion, a P/E ratio of 29.37, a price-to-earnings-growth ratio of 1.92 and a beta of 1.26. Brookfield Asset Management has a one year low of $42.20 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. Analysts forecast that Brookfield Asset Management will post 1.75 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.5025 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.4%. Brookfield Asset Management’s payout ratio is 130.52%.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.