Brookfield Asset Management Ltd. (NYSE:BAM) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Brookfield Asset Management Ltd. has received a consensus rating of "Moderate Buy" from nineteen brokerages, with an average 12-month price target of $63.52.
• The company recently reported earnings of $0.38 per share, falling short of the expected $0.39, with quarterly revenue of $1.11 billion compared to the forecast of $1.29 billion.
• Brookfield announced a quarterly dividend of $0.4375 per share, resulting in an annualized dividend yield of 2.9%.

Shares of Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A have received a consensus recommendation of "Moderate Buy" from the nineteen research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $63.5156.

BAM has been the topic of several research reports. National Bank Financial initiated coverage on shares of Brookfield Asset Management in a research note on Tuesday, July 29th. They set an "outperform" rating and a $71.00 price objective on the stock. TD Securities increased their price objective on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. National Bankshares set a $71.00 price objective on shares of Brookfield Asset Management and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Wells Fargo & Company increased their price objective on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research note on Friday, July 11th. Finally, Jefferies Financial Group raised their price target on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a research note on Wednesday, August 13th.

Institutional Investors Weigh In On Brookfield Asset Management

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock valued at $832,833,000 after purchasing an additional 302,852 shares during the period. TD Asset Management Inc increased its stake in shares of Brookfield Asset Management by 1.6% in the second quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider's stock valued at $861,101,000 after purchasing an additional 250,068 shares during the period. Mackenzie Financial Corp increased its stake in shares of Brookfield Asset Management by 2.5% in the second quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider's stock valued at $631,412,000 after purchasing an additional 282,853 shares during the period. Norges Bank acquired a new position in shares of Brookfield Asset Management during the second quarter valued at approximately $294,730,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Brookfield Asset Management by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider's stock worth $232,402,000 after purchasing an additional 857,994 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Up 0.4%

NYSE:BAM traded up $0.21 on Friday, reaching $60.08. The stock had a trading volume of 2,086,213 shares, compared to its average volume of 2,185,740. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $60.14 and a 200 day moving average of $55.34. The stock has a market cap of $98.40 billion, a P/E ratio of 40.32, a price-to-earnings-growth ratio of 2.19 and a beta of 1.44. Brookfield Asset Management has a 12-month low of $41.78 and a 12-month high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. On average, research analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $0.4375 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.75 annualized dividend and a dividend yield of 2.9%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 117.45%.

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.