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

Key Points

• Brookfield Asset Management Ltd. has received an average rating of "Moderate Buy" from nineteen analysts, with a mix of buy, hold, and sell recommendations.
• The stock has a 1-year target price estimate averaging $63.33, while its current market price opened at $60.17.
• Brookfield Asset Management recently declared a quarterly dividend of $0.4375 per share, resulting in an annualized yield of 2.9%.

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A has earned an average rating of "Moderate Buy" from the nineteen analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $63.3281.

BAM has been the topic of a number of recent research reports. Piper Sandler initiated coverage on shares of Brookfield Asset Management in a report on Monday, June 30th. They issued a "neutral" rating and a $60.00 price objective on the stock. CIBC upped their target price on shares of Brookfield Asset Management from $70.00 to $71.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. BMO Capital Markets increased their price objective on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the company a "market perform" rating in a research report on Thursday, August 7th. TD Securities increased their price target on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, Royal Bank Of Canada assumed coverage on shares of Brookfield Asset Management in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 price target on the stock.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. purchased a new position in shares of Brookfield Asset Management in the 2nd quarter worth $212,000. Advisory Services Network LLC boosted its position in Brookfield Asset Management by 13.6% in the 2nd quarter. Advisory Services Network LLC now owns 11,856 shares of the financial services provider's stock valued at $655,000 after buying an additional 1,416 shares during the period. Geneos Wealth Management Inc. boosted its position in Brookfield Asset Management by 352.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 16,461 shares of the financial services provider's stock valued at $910,000 after buying an additional 12,824 shares during the period. Evergreen Capital Management LLC purchased a new stake in Brookfield Asset Management in the 2nd quarter valued at about $250,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Brookfield Asset Management by 16.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 346,880 shares of the financial services provider's stock worth $19,067,000 after purchasing an additional 49,297 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $60.1710 on Tuesday. Brookfield Asset Management has a 1 year low of $39.19 and a 1 year high of $64.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25. The company's 50-day moving average is $58.89 and its 200 day moving average is $55.16. The stock has a market capitalization of $98.54 billion, a P/E ratio of 40.38, a P/E/G ratio of 2.23 and a beta of 1.44.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly 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). Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. The company had revenue of $1,107,960 billion for the quarter, compared to analysts' expectations of $1.29 billion. On average, sell-side analysts expect that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

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