Brookfield Asset Management Ltd. (NYSE:BAM) Receives $59.15 Average PT from Analysts

Shares of Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A have been given an average rating of "Moderate Buy" by the sixteen ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $59.15.

A number of analysts have weighed in on the company. Jefferies Financial Group decreased their price target on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a report on Tuesday, April 8th. Morgan Stanley raised 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 report on Friday, May 16th. Wells Fargo & Company upped their price objective on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the company an "underweight" rating in a report on Friday, May 23rd. Hsbc Global Res upgraded shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Finally, Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th.

Brookfield Asset Management Stock Up 0.7%

Shares of Brookfield Asset Management stock traded up $0.38 during trading on Thursday, reaching $56.16. The company's stock had a trading volume of 1,303,959 shares, compared to its average volume of 1,461,114. The business's 50-day moving average price is $53.50 and its 200-day moving average price is $54.40. Brookfield Asset Management has a 52 week low of $37.30 and a 52 week high of $62.61. The firm has a market cap of $90.56 billion, a PE ratio of 42.55, a P/E/G ratio of 1.92 and a beta of 1.51.

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

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, May 30th. This represents a $1.75 annualized dividend and a dividend yield of 3.12%. Brookfield Asset Management's dividend payout ratio (DPR) is 124.11%.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Brookfield Asset Management during the fourth quarter valued at approximately $287,361,000. William Blair Investment Management LLC bought a new stake in Brookfield Asset Management during the 4th quarter valued at $204,169,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock worth $216,507,000 after buying an additional 2,031,995 shares during the period. Madison Investment Advisors LLC bought a new position in shares of Brookfield Asset Management during the 4th quarter worth $94,122,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake 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 valued at $85,463,000 after buying an additional 1,601,155 shares during the period. 68.41% of the stock is currently owned by institutional investors.

About Brookfield Asset Management

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.