Brookfield Asset Management Ltd. (NYSE:BAM) Receives Average Recommendation of "Moderate Buy" from Brokerages

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A has been given a consensus rating of "Moderate Buy" by the sixteen brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $59.15.

Several equities research analysts have recently weighed in on BAM shares. Morgan Stanley upped their price target on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Jefferies Financial Group lowered their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. upped their price target on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Scotiabank increased their target price on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th.

Brookfield Asset Management Trading Down 1.1%

Shares of BAM traded down $0.66 during mid-day trading on Friday, hitting $56.58. The company's stock had a trading volume of 1,923,627 shares, compared to its average volume of 1,394,446. The company's 50-day moving average is $51.68 and its 200-day moving average is $54.38. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61. The firm has a market capitalization of $91.24 billion, a price-to-earnings ratio of 42.87, a PEG ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.29 billion. As a group, sell-side analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.09%. Brookfield Asset Management's dividend payout ratio is currently 124.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tandem Capital Management Corp ADV raised its holdings in shares of Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock worth $2,119,000 after buying an additional 175 shares during the last quarter. Kirr Marbach & Co. LLC IN raised its holdings in shares of Brookfield Asset Management by 0.6% in the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider's stock worth $1,715,000 after buying an additional 203 shares during the last quarter. Lincoln Capital LLC raised its holdings in shares of Brookfield Asset Management by 0.9% in the first quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider's stock worth $1,145,000 after buying an additional 210 shares during the last quarter. RE Dickinson Investment Advisors LLC raised its holdings in shares of Brookfield Asset Management by 3.2% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider's stock worth $377,000 after buying an additional 215 shares during the last quarter. Finally, Focus Financial Network Inc. raised its holdings in shares of Brookfield Asset Management by 5.2% in the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider's stock worth $215,000 after buying an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

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.