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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given an average rating of “Moderate Buy” by the sixteen analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $57.03.

A number of analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Piper Sandler set a $49.00 price objective on shares of Brookfield Asset Management and gave the company a “neutral” rating in a research note on Monday, October 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Wall Street Zen downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Finally, Royal Bank Of Canada set a $65.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Friday, September 18th.

Institutional Investors Weigh In On Brookfield Asset Management

Several large investors have recently modified their holdings of the stock. Trust Co. of Vermont purchased a new position in shares of Brookfield Asset Management in the 2nd quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Brookfield Asset Management in the third quarter valued at about $26,000. Compass Financial Management LLC purchased a new stake in Brookfield Asset Management during the second quarter worth about $27,000. Allied Private Wealth LLC purchased a new stake in Brookfield Asset Management during the second quarter worth about $40,000. Finally, Root Financial Partners LLC purchased a new stake in Brookfield Asset Management during the third quarter worth about $50,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Down 0.6%

BAM opened at $48.29 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. Brookfield Asset Management has a 52 week low of $42.20 and a 52 week high of $55.97. The business’s 50 day moving average is $47.17 and its two-hundred day moving average is $47.85. The firm has a market cap of $79.11 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 2.04 and a beta of 1.31.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. On average, research analysts predict that Brookfield Asset Management will post 1.77 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were paid a $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, August 31st. Brookfield Asset Management’s dividend payout ratio (DPR) is 116.86%.

About Brookfield Asset Management

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.