Brookfield Asset Management Ltd. (NYSE:BAM) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Brookfield Asset Management holds a consensus “Hold” rating from 13 analysts, with five buys, six holds, one sell and one strong buy. The average 12-month price target is $58.65, above the reported share price of $50.57.
• The company slightly exceeded quarterly expectations, reporting $0.44 in EPS versus the $0.43 consensus and revenue of $1.49 billion against estimates of $1.47 billion.
• Brookfield declared a quarterly dividend of $0.5025, equivalent to a $2.01 annualized payout and a 4.0% yield. Institutional investors own approximately 68.4% of the company’s stock.

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A has received an average rating of "Hold" from the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $58.6538.

A number of research analysts have recently issued reports on BAM shares. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a research note on Monday, May 11th. Scotia raised their price objective on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the company a "sector outperform" rating in a research report on Thursday, August 6th. National Bank Financial lifted their price objective on Brookfield Asset Management from $69.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Scotiabank reiterated an "outperform" rating and set a $59.00 target price on shares of Brookfield Asset Management in a research report on Thursday, August 6th. Finally, Morgan Stanley set a $56.00 price target on Brookfield Asset Management and gave the company an "equal weight" rating in a report on Tuesday, July 21st.

Brookfield Asset Management Price Performance

BAM stock opened at $50.57 on Friday. Brookfield Asset Management has a twelve month low of $42.20 and a twelve month high of $62.57. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $82.84 billion, a P/E ratio of 29.40, a PEG ratio of 2.06 and a beta of 1.27. The business has a 50 day simple moving average of $49.56 and a 200-day simple moving average of $47.82.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.47 billion. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. As a group, equities analysts anticipate that Brookfield Asset Management will post 1.78 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.5025 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.01 annualized dividend and a yield of 4.0%. Brookfield Asset Management's dividend payout ratio is presently 116.86%.

Hedge Funds Weigh In On Brookfield Asset Management

Large investors have recently made changes to their positions in the stock. TD Asset Management Inc boosted its holdings in Brookfield Asset Management by 2.0% during the fourth quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider's stock worth $827,135,000 after buying an additional 315,036 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Brookfield Asset Management by 62.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider's stock valued at $566,092,000 after acquiring an additional 4,872,090 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Asset Management by 15.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider's stock valued at $236,308,000 after acquiring an additional 716,892 shares during the period. Norges Bank purchased a new stake in shares of Brookfield Asset Management during the 4th quarter worth approximately $263,444,000. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Brookfield Asset Management by 6.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider's stock worth $227,422,000 after acquiring an additional 294,966 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company's products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.

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