Brookfield Asset Management Ltd. (NYSE:BAM) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts give Brookfield Asset Management an average recommendation of Hold based on 18 firms (2 sell, 8 hold, 7 buy, 1 strong buy) with an average 12‑month price target of about $61.76.
• The company beat Q1 EPS estimates ($0.47 vs. $0.41) but had revenue of $1.39B slightly below consensus; shares opened at $48.01, the market cap is $78.65B and the stock trades at a PE of 31.59 within a 12‑month range of $42.20–$64.10.
• Brookfield raised its quarterly dividend to $0.5025 (annualized $2.01), yielding ~4.2%, though the payout ratio is elevated at 132.24%, which may pose sustainability concerns.

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A has been assigned an average recommendation of "Hold" from the eighteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $61.7647.

BAM has been the subject of several research analyst reports. Piper Sandler cut their price objective on Brookfield Asset Management from $53.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. UBS Group set a $52.00 price target on shares of Brookfield Asset Management in a report on Friday, February 20th. The Goldman Sachs Group decreased their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Zacks Research cut shares of Brookfield Asset Management from a "strong-buy" rating to a "hold" rating in a report on Friday, March 20th. Finally, BMO Capital Markets upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 5th.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversify Wealth Management LLC increased its stake in shares of Brookfield Asset Management by 31.2% during the 1st quarter. Diversify Wealth Management LLC now owns 23,910 shares of the financial services provider's stock worth $1,101,000 after purchasing an additional 5,688 shares in the last quarter. Fifth Third Bancorp lifted its stake in Brookfield Asset Management by 49.6% in the 1st quarter. Fifth Third Bancorp now owns 1,599 shares of the financial services provider's stock valued at $71,000 after buying an additional 530 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Brookfield Asset Management by 0.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 291,685 shares of the financial services provider's stock valued at $12,965,000 after buying an additional 2,255 shares during the last quarter. Demars Financial Group LLC acquired a new stake in Brookfield Asset Management during the 1st quarter valued at $789,000. Finally, Frank Rimerman Advisors LLC purchased a new position in Brookfield Asset Management during the first quarter worth $404,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Shares of BAM opened at $48.01 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. The stock's 50 day moving average is $45.92 and its two-hundred day moving average is $50.30. Brookfield Asset Management has a twelve month low of $42.20 and a twelve month high of $64.10. The firm has a market capitalization of $78.65 billion, a PE ratio of 31.59, a P/E/G ratio of 1.97 and a beta of 1.28.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%.The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.40 billion. Research analysts anticipate that Brookfield Asset Management will post 1.74 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, February 27th were given a $0.5025 dividend. The ex-dividend date was Friday, February 27th. This represents a $2.01 annualized dividend and a dividend yield of 4.2%. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.44. Brookfield Asset Management's payout ratio is presently 132.24%.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company's products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.