Brokerages Set Brookfield Asset Management Ltd. (NYSE:BAM) PT at $42.46

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned a consensus rating of “Hold” from the eleven ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $42.46.

A number of equities research analysts have weighed in on the company. Scotiabank cut their target price on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price objective on Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Jefferies Financial Group started coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price target for the company. Finally, CIBC lifted their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research note on Friday, July 19th.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAM. International Assets Investment Management LLC acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at about $4,160,000. Cerity Partners LLC acquired a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $261,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Brookfield Asset Management by 3.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,920 shares of the financial services provider’s stock valued at $2,580,000 after acquiring an additional 1,842 shares in the last quarter. Powell Investment Advisors LLC acquired a new position in shares of Brookfield Asset Management in the fourth quarter worth $239,000. Finally, Marks Group Wealth Management Inc raised its holdings in shares of Brookfield Asset Management by 2.8% during the fourth quarter. Marks Group Wealth Management Inc now owns 156,943 shares of the financial services provider’s stock worth $6,304,000 after acquiring an additional 4,221 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Down 1.7 %

Shares of NYSE BAM opened at $39.91 on Friday. The stock has a market cap of $17.71 billion, a P/E ratio of 36.95, a P/E/G ratio of 1.95 and a beta of 1.57. The firm’s 50-day simple moving average is $39.84 and its 200 day simple moving average is $40.13. Brookfield Asset Management has a fifty-two week low of $28.35 and a fifty-two week high of $44.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. During the same period in the previous year, the business posted $0.28 EPS. On average, sell-side analysts anticipate that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a $0.38 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.81%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 140.74%.

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.