Brookfield Asset Management Ltd. (NYSE:BAM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $42.20.

A number of equities analysts have commented on BAM shares. CIBC upped their price objective on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. HSBC downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Royal Bank of Canada upped their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. TD Securities cut their price objective on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a research report on Tuesday, January 9th. Finally, Scotiabank upped their price objective on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 8th.

Brookfield Asset Management Price Performance

BAM stock opened at $38.32 on Friday. The company has a fifty day moving average price of $40.99 and a 200 day moving average price of $37.52. Brookfield Asset Management has a 12 month low of $28.35 and a 12 month high of $43.00. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.68.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. The firm had revenue of $1.13 billion during the quarter. During the same quarter last year, the company earned $0.31 EPS. As a group, analysts anticipate that Brookfield Asset Management will post 1.49 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.97%. Brookfield Asset Management’s dividend payout ratio is 134.51%.

Hedge Funds Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently made changes to their positions in the stock. Private Trust Co. NA grew its stake in shares of Brookfield Asset Management by 180.4% during the 3rd quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 680 shares during the period. BNP Paribas Arbitrage SA grew its stake in Brookfield Asset Management by 35.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,057 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 277 shares during the last quarter. Signaturefd LLC grew its stake in Brookfield Asset Management by 106.4% in the 3rd quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 764 shares during the last quarter. Bfsg LLC acquired a new stake in Brookfield Asset Management in the 4th quarter valued at about $51,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in Brookfield Asset Management by 39.6% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 500 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

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.