Brookfield Asset Management Ltd. (NYSE:BAM) Stock Has Consensus Target Price of $58.65

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $57.39.

A number of research firms recently issued reports on BAM. UBS Group raised their price objective on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Scotia increased their price target on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Sunday. Scotiabank reiterated an “outperform” rating and set a $59.00 price target on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Finally, Piper Sandler reissued a “neutral” rating and set a $50.00 price objective (down from $53.00) on shares of Brookfield Asset Management in a research report on Friday, September 18th.

Brookfield Asset Management Stock Down 0.1%

BAM stock opened at $44.81 on Wednesday. Brookfield Asset Management has a fifty-two week low of $42.20 and a fifty-two week high of $59.33. The business’s 50-day moving average is $49.36 and its two-hundred day moving average is $47.61. 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 company has a market cap of $73.41 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 1.84 and a beta of 1.31.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. As a group, 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. Investors of record on Monday, August 31st were given a dividend of $0.5025 per share. The ex-dividend date was Monday, August 31st. This represents a $2.01 annualized dividend and a yield of 4.5%. Brookfield Asset Management’s payout ratio is 116.86%.

Institutional Trading of Brookfield Asset Management

Several hedge funds have recently bought and sold shares of the stock. Crescent Grove Advisors LLC boosted its position in shares of Brookfield Asset Management by 4.3% during the fourth quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 200 shares during the last quarter. Hanson & Doremus Investment Management increased its holdings in Brookfield Asset Management by 19.3% in the 1st quarter. Hanson & Doremus Investment Management now owns 1,548 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 250 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Brookfield Asset Management by 22.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,674 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 304 shares in the last quarter. NewEdge Wealth LLC lifted its stake in Brookfield Asset Management by 6.4% in the 1st quarter. NewEdge Wealth LLC now owns 5,739 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 344 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Brookfield Asset Management by 16.0% during the 2nd quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 408 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

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.