Brookfield Asset Management Ltd. (NYSE:BAM) Receives $54.54 Consensus Price Target from Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given an average recommendation of “Hold” by the thirteen brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $54.38.

Several equities research analysts recently commented on BAM shares. Wells Fargo & Company decreased their target price on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday. 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 research note on Tuesday, November 19th. BMO Capital Markets increased their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada lifted their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $54.17 on Monday. The firm has a market cap of $24.00 billion, a PE ratio of 47.94, a price-to-earnings-growth ratio of 2.43 and a beta of 1.45. Brookfield Asset Management has a 52 week low of $37.19 and a 52 week high of $59.58. The firm’s fifty day moving average is $55.91 and its 200-day moving average is $48.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business earned $0.35 earnings per share. Sell-side analysts forecast that Brookfield Asset Management will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a dividend of $0.38 per share. The ex-dividend date was Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.81%. Brookfield Asset Management’s payout ratio is 134.51%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in shares of 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 valued at $77,293,000 after purchasing an additional 168,170 shares during the last quarter. Avior Wealth Management LLC increased its stake in Brookfield Asset Management by 2,857.1% in the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after buying an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Brookfield Asset Management by 5.8% during 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 buying an additional 45,670 shares in the last quarter. LGT Capital Partners LTD. boosted its stake in shares of Brookfield Asset Management by 11.5% in the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock worth $25,273,000 after buying an additional 55,000 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Brookfield Asset Management by 10.3% in 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 acquiring an additional 370,383 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

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.