Brookfield Asset Management Ltd. (NYSE:BAM) Stock Has Average Price Target of $57.03

Key Points

• Analysts maintain a “Moderate Buy” consensus on Brookfield Asset Management, with an average 12-month price target of $57.03 versus the stock’s reported $47.06 price. Ratings include seven buys, one strong buy, seven holds and one sell.
• Recent analyst views were mixed: Royal Bank of Canada set a $65 target and “outperform” rating, while UBS lowered its target to $49 and Wall Street Zen downgraded the stock to “sell.”
• Brookfield exceeded quarterly expectations with $0.44 EPS on $1.49 billion in revenue, while institutional investors own 68.41% of the company. The firm also pays a $2.01 annualized dividend, yielding about 4.3%.

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 research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $57.03.

Several research analysts have recently weighed in on BAM shares. Bank of America lowered their price objective on shares of Brookfield Asset Management from $61.00 to $60.00 and set a "neutral" rating on the stock in a research note on Monday, October 5th. Royal Bank Of Canada set a $65.00 target price on shares of Brookfield Asset Management and gave the company an "outperform" rating in a research note on Friday, September 18th. Scotia upped their price objective on Brookfield Asset Management from $57.00 to $59.00 and gave the company a "sector outperform" rating in a research note on Thursday, August 6th. Wall Street Zen cut Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Saturday, October 17th. Finally, UBS Group cut their price objective on Brookfield Asset Management from $55.00 to $49.00 and set a "neutral" rating for the company in a research report on Tuesday, October 13th.

Institutional Investors Weigh In On Brookfield Asset Management

Hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. raised its position in shares of Brookfield Asset Management by 6.3% in the second quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider's stock valued at $227,422,000 after purchasing an additional 294,966 shares during the period. Liontrust Investment Partners LLP acquired a new stake in shares of Brookfield Asset Management during the 1st quarter worth about $11,161,000. Baird Financial Group Inc. boosted its holdings in shares of Brookfield Asset Management by 131.4% during the 2nd quarter. Baird Financial Group Inc. now owns 45,809 shares of the financial services provider's stock worth $2,054,000 after buying an additional 26,011 shares during the period. Nykredit A S bought a new stake in shares of Brookfield Asset Management during the 2nd quarter worth about $3,451,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Brookfield Asset Management during the 2nd quarter worth about $8,235,000. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Shares of BAM opened at $47.06 on Friday. The company has a market cap of $77.10 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 1.99 and a beta of 1.31. Brookfield Asset Management has a 1-year low of $42.20 and a 1-year high of $56.37. The company's fifty day simple moving average is $47.59 and its 200 day simple moving average is $47.79. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm 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%. On average, research analysts forecast that Brookfield Asset Management will post 1.77 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were paid a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, August 31st. Brookfield Asset Management's dividend payout ratio is 116.86%.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. NYSE: BAM is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.

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