Brookfield Asset Management Ltd. (NYSE:BAM) Receives $56.38 Consensus Price Target from Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $56.38.

Several equities research analysts have weighed in on the stock. BMO Capital Markets raised their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. UBS Group assumed coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating on the stock. Wells Fargo & Company dropped their target price on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a research report on Thursday, March 20th. Finally, TD Securities raised their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, February 10th.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $50.77 on Friday. The firm has a fifty day moving average of $54.43 and a 200-day moving average of $53.70. The stock has a market cap of $83.13 billion, a price-to-earnings ratio of 38.46, a P/E/G ratio of 1.92 and a beta of 1.62. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, sell-side analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC raised its stake in Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after buying an additional 419 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $32,000. Versant Capital Management Inc lifted its holdings in shares of Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 325 shares during the period. Finally, Continuum Advisory LLC increased its stake in Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 329 shares in the last quarter. 68.41% of the stock is owned by 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.