Brookfield Asset Management Ltd. (NYSE:BAM) Receives $59.50 Average Price Target from Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given an average rating of “Hold” by the fourteen analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $59.3214.

A number of equities analysts have weighed in on the stock. Canadian Imperial Bank of Commerce set a $62.50 price target on shares of Brookfield Asset Management in a report on Monday, May 11th. JPMorgan Chase & Co. cut their target price on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. National Bank Financial lifted their target price on Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Piper Sandler reissued a “neutral” rating and set a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Finally, Scotiabank restated an “outperform” rating and set a $59.00 price target on shares of Brookfield Asset Management in a research note on Thursday, August 6th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont acquired a new stake in shares of Brookfield Asset Management in the second quarter worth $25,000. Zions Bancorporation National Association UT lifted its holdings in shares of Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 345 shares in the last quarter. LOM Asset Management Ltd acquired a new position in shares of Brookfield Asset Management during the 4th quarter valued at $31,000. Allied Private Wealth LLC purchased a new stake in Brookfield Asset Management during the 2nd quarter worth $40,000. Finally, Allworth Financial LP boosted its position in 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 worth $54,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 2.5%

Shares of BAM stock opened at $55.87 on Tuesday. The firm has a market cap of $91.53 billion, a P/E ratio of 32.48, a PEG ratio of 2.24 and a beta of 1.26. Brookfield Asset Management has a 1-year low of $42.20 and a 1-year high of $62.57. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s 50-day simple moving average is $47.94 and its 200-day simple moving average is $47.70.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its 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. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.78%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.47 billion. As a group, equities analysts forecast that Brookfield Asset Management will post 1.77 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.5025 per share. The ex-dividend date is Monday, August 31st. This represents a $2.01 dividend on an annualized basis and a dividend yield of 3.6%. Brookfield Asset Management’s payout ratio is presently 116.86%.

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.