Brookfield Asset Management Ltd. (NYSE:BAM) Receives Average Recommendation of "Hold" from Analysts

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A has received a consensus rating of "Hold" from the thirteen research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $53.88.

BAM has been the subject of several research reports. 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. StockNews.com upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Thursday, November 21st. BMO Capital Markets upped their price target 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. Deutsche Bank Aktiengesellschaft increased their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, Keefe, Bruyette & Woods lifted their target price on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an "underperform" rating in a report on Tuesday, November 5th.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hara Capital LLC purchased a new stake in shares of Brookfield Asset Management during the third quarter worth $27,000. RPg Family Wealth Advisory LLC acquired a new position in Brookfield Asset Management in the 3rd quarter worth about $27,000. Richardson Financial Services Inc. lifted its holdings in shares of Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock valued at $37,000 after buying an additional 755 shares during the last quarter. Legacy Bridge LLC acquired a new stake in shares of Brookfield Asset Management during the 2nd quarter valued at about $52,000. Finally, Continuum Advisory LLC grew its stake in shares of Brookfield Asset Management by 42.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock valued at $52,000 after buying an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Trading Up 0.8 %

NYSE:BAM traded up $0.42 during midday trading on Thursday, hitting $54.22. 914,747 shares of the stock were exchanged, compared to its average volume of 1,232,442. The business has a 50-day moving average price of $55.00 and a two-hundred day moving average price of $46.23. The company has a market capitalization of $22.75 billion, a price-to-earnings ratio of 47.98, a P/E/G ratio of 2.43 and a beta of 1.41. Brookfield Asset Management has a one year low of $37.19 and a one year high of $59.58.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Sell-side analysts forecast that Brookfield Asset Management will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management's dividend payout ratio (DPR) is 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.