Analysts Set Brookfield Asset Management Ltd. (NYSE:BAM) PT at $62.06

Key Points

• Brookfield Asset Management has received a consensus recommendation of "Moderate Buy" from 19 brokerages, with two analysts rating it a sell, five a hold, ten a buy, and two a strong buy.
• The average 1-year price target for Brookfield's stock is $62.06, with recent price objectives set by various analysts ranging from $54.00 to $71.00.
• The company recently declared a quarterly dividend of $0.4375, leading to an annualized dividend of $1.75 and a dividend yield of 2.8%.

Shares of Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A have received a consensus rating of "Moderate Buy" from the nineteen brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $62.06.

BAM has been the topic of a number of recent analyst reports. 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 report on Monday. Wells Fargo & Company lifted their target price on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an "underweight" rating in a research note on Friday, July 11th. Jefferies Financial Group reduced their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Scotiabank restated an "outperform" rating and issued a $66.00 price objective (down previously from $69.00) on shares of Brookfield Asset Management in a report on Wednesday.

Brookfield Asset Management Stock Down 3.0%

Shares of NYSE:BAM traded down $1.86 during trading hours on Friday, hitting $59.81. The company's stock had a trading volume of 2,106,115 shares, compared to its average volume of 1,710,764. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $97.95 billion, a price-to-earnings ratio of 42.42, a P/E/G ratio of 2.38 and a beta of 1.44. The firm's fifty day moving average price is $57.20 and its 200 day moving average price is $54.80. Brookfield Asset Management has a 52 week low of $38.18 and a 52 week high of $63.53.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. As a group, research 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 was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.9%. Brookfield Asset Management's dividend payout ratio is 124.11%.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its holdings in Brookfield Asset Management by 1,270.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 432 shares in the last quarter. Rossby Financial LCC acquired a new stake in Brookfield Asset Management during the 1st quarter worth approximately $28,000. ST Germain D J Co. Inc. acquired a new stake in Brookfield Asset Management in the first quarter valued at approximately $26,000. NewEdge Advisors LLC grew its position in Brookfield Asset Management by 61.0% in the fourth 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 in the last quarter. Finally, Truvestments Capital LLC grew its position in Brookfield Asset Management by 85.5% in the first quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 432 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other 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.