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

Key Points

• Brookfield Asset Management has an average analyst rating of “Hold” from 17 research firms, with a mix of sell, hold, buy, and strong buy opinions. The average 12-month price target among covering brokerages is about $60.41.
• Recent analyst moves were mixed: Goldman Sachs cut its target to $49, Royal Bank of Canada lowered its target to $65, while Piper Sandler and CIBC maintained more neutral-to-positive views with targets around $50 and $62.50, respectively.
• The company reported better-than-expected quarterly earnings of $0.43 per share and recently paid a quarterly dividend of $0.5025 per share, equal to an annualized yield of about 4.1%.

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A has been assigned an average rating of "Hold" from the seventeen research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $60.4062.

A number of research firms have weighed in on BAM. The Goldman Sachs Group decreased their price target on Brookfield Asset Management from $60.00 to $49.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Weiss Ratings cut shares of Brookfield Asset Management from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 15th. Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a report on Monday, May 11th. Royal Bank Of Canada dropped their price target on shares of Brookfield Asset Management from $74.00 to $65.00 and set an "outperform" rating on the stock in a research report on Monday, May 11th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th.

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Brookfield Asset Management by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider's stock valued at $928,414,000 after buying an additional 297,790 shares during the period. TD Asset Management Inc boosted its stake in shares of Brookfield Asset Management by 2.0% during the 4th quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider's stock worth $827,135,000 after acquiring an additional 315,036 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Brookfield Asset Management by 62.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider's stock worth $566,092,000 after acquiring an additional 4,872,090 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Brookfield Asset Management by 15.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider's stock worth $236,308,000 after acquiring an additional 716,892 shares during the last quarter. Finally, Norges Bank bought a new stake in Brookfield Asset Management in the 4th quarter valued at $263,444,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Up 1.0%

Brookfield Asset Management stock opened at $49.51 on Friday. The company has a market cap of $81.10 billion, a price-to-earnings ratio of 32.15, a P/E/G ratio of 2.02 and a beta of 1.29. The firm has a 50-day moving average of $47.23 and a 200-day moving average of $48.09. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. Brookfield Asset Management has a one year low of $42.20 and a one year high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. On average, equities analysts expect that Brookfield Asset Management will post 1.74 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Asset Management's dividend payout ratio is presently 130.52%.

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.

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