Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A's stock price reached a new 52-week high on Monday . The company traded as high as $57.56 and last traded at $57.42, with a volume of 24748 shares traded. The stock had previously closed at $56.39.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on BAM shares. 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 report on Tuesday, November 5th. The Goldman Sachs Group upped their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. Keefe, Bruyette & Woods upped their price target on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an "underperform" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Finally, Royal Bank of Canada upped their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $52.54.
Check Out Our Latest Research Report on Brookfield Asset Management
Brookfield Asset Management Trading Up 2.5 %
The firm has a market cap of $25.67 billion, a P/E ratio of 51.15, a PEG ratio of 2.52 and a beta of 1.42. The company's 50 day simple moving average is $48.39 and its 200-day simple moving average is $42.81.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the business earned $0.35 EPS. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current year.
Brookfield Asset Management Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management's dividend payout ratio (DPR) is presently 134.51%.
Institutional Investors Weigh In On Brookfield Asset Management
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc increased its holdings in Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider's stock worth $515,823,000 after acquiring an additional 1,066,015 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider's stock worth $514,867,000 after acquiring an additional 2,205,040 shares in the last quarter. Vanguard Group Inc. increased its holdings in Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider's stock worth $452,153,000 after acquiring an additional 186,765 shares in the last quarter. Principal Financial Group Inc. increased its holdings in 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. Finally, The Manufacturers Life Insurance Company increased its holdings in 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 worth $260,770,000 after acquiring an additional 2,788,611 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.
Brookfield Asset Management Company Profile
(
Get Free Report)
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.
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