Brookfield Asset Management Ltd. (NYSE:BAM) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A have been given an average recommendation of "Hold" by the thirteen brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $54.54.

Several analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the stock an "underweight" rating in a report on Thursday, December 12th. Keefe, Bruyette & Woods raised their price objective on shares of Brookfield Asset Management from $49.00 to $57.00 and gave the stock an "underperform" rating in a report on Friday, December 20th. TD Securities upped their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. StockNews.com cut Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Thursday. Finally, BMO Capital Markets boosted 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.

Institutional Trading of Brookfield Asset Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new position in shares of Brookfield Asset Management during the 3rd quarter worth about $27,000. RPg Family Wealth Advisory LLC bought a new position in Brookfield Asset Management during the third quarter worth about $27,000. Richardson Financial Services Inc. increased its position in Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock worth $37,000 after buying an additional 755 shares during the last quarter. Versant Capital Management Inc raised its stake in Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider's stock valued at $44,000 after buying an additional 771 shares during the period. Finally, Continuum Advisory LLC lifted its position in shares of Brookfield Asset Management by 42.2% in the third 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 during the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Down 6.4 %

Shares of BAM stock opened at $52.17 on Monday. Brookfield Asset Management has a 12-month low of $37.19 and a 12-month high of $59.58. The firm has a fifty day moving average of $56.02 and a 200-day moving average of $48.18. The firm has a market capitalization of $23.11 billion, a price-to-earnings ratio of 46.17, a price-to-earnings-growth ratio of 2.43 and a beta of 1.45.

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

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.91%. Brookfield Asset Management's dividend payout ratio is presently 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.