Brookfield Asset Management (NYSE:BAM) Shares Down 4.8% - Time to Sell?

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A traded down 4.8% during trading on Monday . The company traded as low as $54.73 and last traded at $54.78. 424,713 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 1,439,885 shares. The stock had previously closed at $57.53.

Analyst Ratings Changes

A number of research firms recently weighed in on BAM. Bank of America upgraded shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a research report on Thursday, April 10th. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Jefferies Financial Group cut their target price on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, TD Securities boosted their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.15.

Brookfield Asset Management Stock Performance

The stock has a market cap of $90.21 billion, a PE ratio of 42.42, a PEG ratio of 1.92 and a beta of 1.51. The stock's 50-day moving average is $53.01 and its two-hundred day moving average is $54.38.

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

Brookfield Asset Management Announces Dividend

The business also recently disclosed 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. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management's dividend payout ratio is currently 124.11%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of large investors have recently modified their holdings of the company. ST Germain D J Co. Inc. purchased a new position in shares of Brookfield Asset Management during the first quarter worth approximately $26,000. Truvestments Capital LLC boosted its stake in shares of Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after acquiring an additional 419 shares in the last quarter. Rossby Financial LCC acquired a new position in shares of Brookfield Asset Management during the 1st quarter worth $28,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Brookfield Asset Management in the fourth quarter valued at approximately $32,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after acquiring an additional 325 shares during the last quarter. 68.41% of the stock is 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.

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