Brookfield Asset Management Ltd. (NYSE:BAM) Given Consensus Rating of “Hold” by Analysts

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given a consensus rating of “Hold” by the seventeen research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $60.0312.

A number of research firms have recently weighed in on BAM. JPMorgan Chase & Co. reduced their target price on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a report on Monday, May 11th. Scotiabank reiterated an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. Finally, Wall Street Zen lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $46.58 on Friday. The company’s 50-day moving average is $47.13 and its 200 day moving average is $47.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $76.30 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 1.95 and a beta of 1.29. Brookfield Asset Management has a fifty-two week low of $42.20 and a fifty-two week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. On average, equities research analysts forecast that Brookfield Asset Management will post 1.73 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were given a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Asset Management’s dividend payout ratio is currently 130.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BAM. Zions Bancorporation National Association UT lifted its holdings in Brookfield Asset Management by 241.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 345 shares during the last quarter. LOM Asset Management Ltd purchased a new position in shares of Brookfield Asset Management in the fourth quarter worth about $31,000. Allied Private Wealth LLC bought a new stake in shares of Brookfield Asset Management in the second quarter valued at approximately $40,000. eCIO Inc. bought a new stake in shares of Brookfield Asset Management in the fourth quarter valued at approximately $42,000. Finally, Allworth Financial LP lifted its stake in shares of Brookfield Asset Management by 47.8% during the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after buying an additional 333 shares in the last quarter. 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.