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

Key Points

• Brookfield Asset Management Ltd. has received an average analyst recommendation of "Moderate Buy", with two analysts rating it as sell and nine as buy or strong buy.
• The company recently reported earnings of $0.38 per share, missing the consensus estimate, and declared a quarterly dividend of $0.4375, yielding 3.1% annually.
• Institutional investors significantly increased their stakes in Brookfield, with notable purchases from Norges Bank and State Street Corp, indicating strong interest from large investors.

Shares of Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A have earned an average recommendation of "Moderate Buy" from the twenty analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $64.0156.

A number of analysts have weighed in on the stock. Royal Bank Of Canada initiated coverage on shares of Brookfield Asset Management in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 target price on the stock. Piper Sandler cut their price objective on Brookfield Asset Management from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, September 11th. National Bankshares set a $71.00 price target on Brookfield Asset Management and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Weiss Ratings reissued a "buy (b)" rating on shares of Brookfield Asset Management in a research note on Wednesday, October 8th. Finally, BMO Capital Markets lifted their target price on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a "market perform" rating in a research report on Thursday, August 7th.

Hedge Funds Weigh In On Brookfield Asset Management

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Brookfield Asset Management during the 2nd quarter worth approximately $294,730,000. State Street Corp raised its position in shares of Brookfield Asset Management by 11,172.2% during the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider's stock worth $194,845,000 after purchasing an additional 3,493,431 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Brookfield Asset Management by 975.9% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider's stock worth $85,463,000 after purchasing an additional 1,601,155 shares during the period. Geode Capital Management LLC raised its position in shares of Brookfield Asset Management by 62.4% during the second quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider's stock worth $208,571,000 after purchasing an additional 1,443,441 shares during the period. Finally, Millennium Management LLC raised its position in shares of Brookfield Asset Management by 461.5% during the first quarter. Millennium Management LLC now owns 1,722,683 shares of the financial services provider's stock worth $83,464,000 after purchasing an additional 1,415,866 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Down 0.8%

BAM stock opened at $56.52 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. The company's 50-day simple moving average is $59.10 and its 200 day simple moving average is $56.42. Brookfield Asset Management has a 52 week low of $41.78 and a 52 week high of $64.10. The company has a market capitalization of $92.57 billion, a PE ratio of 37.93, a price-to-earnings-growth ratio of 2.11 and a beta of 1.39.

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

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a $0.4375 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.1%. Brookfield Asset Management's payout ratio is 117.45%.

Brookfield Asset Management Company Profile

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.

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