Brookfield Asset Management Ltd. (NYSE:BAM) Given Average Rating of "Hold" by Analysts

Shares of Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A have been given an average rating of "Hold" by the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $54.38.

A number of analysts recently issued reports on the company. BMO Capital Markets increased their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a "market perform" rating in a report on Tuesday, November 5th. Keefe, Bruyette & Woods decreased their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a report on Monday. Scotiabank raised their price target on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a "sector outperform" rating in a report on Tuesday, November 5th. StockNews.com lowered shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Thursday, January 9th. Finally, UBS Group began coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They issued a "buy" rating on the stock.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded up $0.92 during trading on Monday, reaching $55.05. 762,206 shares of the stock traded hands, compared to its average volume of 1,248,078. The stock has a market capitalization of $24.39 billion, a P/E ratio of 48.71, a price-to-earnings-growth ratio of 1.75 and a beta of 1.45. Brookfield Asset Management has a 52-week low of $37.19 and a 52-week high of $59.58. The company has a 50-day moving average of $55.85 and a 200-day moving average of $48.42.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the prior year, the firm earned $0.35 earnings per share. Analysts expect that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.76%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 134.51%.

Institutional Investors Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp raised its stake in Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider's stock worth $514,867,000 after buying an additional 2,205,040 shares in the last quarter. Bank of Montreal Can raised its position in shares of Brookfield Asset Management by 0.5% in the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider's stock worth $435,729,000 after acquiring an additional 43,134 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Brookfield Asset Management by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider's stock worth $419,400,000 after acquiring an additional 24,409 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider's stock valued at $260,770,000 after purchasing an additional 2,788,611 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Brookfield Asset Management by 10.3% during the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider's stock valued at $188,057,000 after purchasing an additional 370,383 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.