Analysts Set Brookfield Asset Management Ltd. (NYSE:BAM) PT at $53.46

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A has been assigned an average recommendation of "Hold" from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $53.46.

Several research firms have recently weighed in on BAM. Royal Bank of Canada raised their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Jefferies Financial Group began coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They set a "hold" rating and a $43.00 price target for the company. BMO Capital Markets raised their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a "market perform" rating in a report on Tuesday, November 5th. TD Securities boosted their target price on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Monday, November 11th.

Hedge Funds Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hara Capital LLC purchased a new position in Brookfield Asset Management during the 3rd quarter valued at $27,000. RPg Family Wealth Advisory LLC purchased a new stake in Brookfield Asset Management in the third quarter worth about $27,000. Massmutual Trust Co. FSB ADV boosted its position in Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 385 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock worth $30,000 after acquiring an additional 285 shares during the period. Finally, Richardson Financial Services Inc. lifted its stake in shares of Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 755 shares during the period. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Down 0.2 %

NYSE:BAM traded down $0.09 during trading hours on Friday, hitting $55.47. 1,036,222 shares of the company's stock traded hands, compared to its average volume of 1,184,244. The firm has a market cap of $24.57 billion, a P/E ratio of 49.09, a P/E/G ratio of 2.28 and a beta of 1.42. The business's fifty day simple moving average is $51.14 and its two-hundred day simple moving average is $43.96. Brookfield Asset Management has a 52 week low of $33.45 and a 52 week high of $58.53.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the business earned $0.35 earnings per share. On average, analysts expect that Brookfield Asset Management will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.74%. Brookfield Asset Management's payout ratio is currently 134.51%.

About Brookfield Asset Management

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.