Brookfield Asset Management Ltd. (NYSE:BAM) Stock Has Average Price Target of $58.65 According to Analysts

Key Points

• Analysts have a “Hold” consensus on Brookfield Asset Management, with six holds, five buys, one strong buy and one sell. The average 12-month price target is $58.65, above the reported $44.98 opening price.
• Brookfield exceeded quarterly expectations, reporting $0.44 EPS versus the $0.43 consensus and revenue of $1.49 billion versus estimates of $1.47 billion.
• The company paid a quarterly dividend of $0.5025 per share, equivalent to a 4.5% annualized yield; institutional investors and hedge funds own 68.41% of the stock.

Shares of Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A have earned an average rating of "Hold" from the thirteen analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $58.65.

BAM has been the topic of a number of analyst reports. Scotia lifted their price objective on Brookfield Asset Management from $57.00 to $59.00 and gave the company a "sector outperform" rating in a report on Thursday, August 6th. Piper Sandler reissued a "neutral" rating and set a $50.00 target price (down from $53.00) on shares of Brookfield Asset Management in a research note on Friday, September 18th. Royal Bank Of Canada set a $65.00 price target on Brookfield Asset Management and gave the company an "outperform" rating in a report on Friday, September 18th. UBS Group raised their price target on Brookfield Asset Management from $48.00 to $55.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Finally, Wall Street Zen lowered Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Saturday.

Brookfield Asset Management Stock Up 1.1%

Shares of Brookfield Asset Management stock opened at $44.98 on Wednesday. Brookfield Asset Management has a one year low of $42.20 and a one year high of $59.33. The company has a market cap of $73.68 billion, a P/E ratio of 26.15, a PEG ratio of 1.82 and a beta of 1.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a fifty day moving average of $49.44 and a two-hundred day moving average of $47.58.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The business 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, analysts forecast that Brookfield Asset Management will post 1.78 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were given a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, August 31st. Brookfield Asset Management's payout ratio is presently 116.86%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently made changes to their positions in BAM. TD Waterhouse Canada Inc. increased its stake in Brookfield Asset Management by 6.3% in the 2nd 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 in the last quarter. Liontrust Investment Partners LLP acquired a new stake in Brookfield Asset Management in the first quarter valued at $11,161,000. Public Employees Retirement System of Ohio acquired a new stake in Brookfield Asset Management in the second quarter valued at $8,235,000. Baird Financial Group Inc. increased its position in shares of Brookfield Asset Management by 131.4% in the second quarter. Baird Financial Group Inc. now owns 45,809 shares of the financial services provider's stock valued at $2,054,000 after buying an additional 26,011 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Brookfield Asset Management by 17.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 942,000 shares of the financial services provider's stock valued at $41,867,000 after buying an additional 142,000 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. NYSE: BAM is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.

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