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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A have earned a consensus rating of "Moderate Buy" from the sixteen brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $59.15.

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. upped their target price on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Scotiabank upped their target price on shares of Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Morgan Stanley increased their price objective on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Finally, TD Securities increased their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th.

Brookfield Asset Management Stock Down 2.8%

BAM stock traded down $1.55 during trading on Thursday, hitting $54.60. The company had a trading volume of 1,238,987 shares, compared to its average volume of 1,460,140. The firm has a 50-day moving average price of $53.99 and a 200-day moving average price of $54.36. Brookfield Asset Management has a 12 month low of $37.30 and a 12 month high of $62.61. The stock has a market cap of $88.04 billion, a price-to-earnings ratio of 41.36, a PEG ratio of 1.92 and a beta of 1.51.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities analysts expect that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 3.21%. Brookfield Asset Management's dividend payout ratio is currently 124.11%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BAM. ST Germain D J Co. Inc. bought a new position in Brookfield Asset Management in the 1st quarter valued at about $26,000. Truvestments Capital LLC raised its holdings in Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 419 shares during the period. Rossby Financial LCC bought a new position in Brookfield Asset Management in the 1st quarter valued at about $28,000. Mountain Hill Investment Partners Corp. bought a new position in Brookfield Asset Management in the 4th quarter valued at about $32,000. Finally, NewEdge Advisors LLC raised its holdings in Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 325 shares during the period. 68.41% of the stock is owned by institutional investors.

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.