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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A have received an average recommendation of "Hold" from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $48.32.

Several research firms have issued reports on BAM. JPMorgan Chase & Co. cut their target price on 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. StockNews.com downgraded shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Wells Fargo & Company lifted their price target on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the stock an "underweight" rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group upped their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, September 30th.

Brookfield Asset Management Stock Up 0.5 %

BAM stock traded up $0.26 during trading on Wednesday, hitting $53.80. The company had a trading volume of 1,238,590 shares, compared to its average volume of 1,264,893. Brookfield Asset Management has a 52-week low of $28.35 and a 52-week high of $54.20. The company has a 50 day simple moving average of $46.16 and a 200-day simple moving average of $41.90. The firm has a market capitalization of $23.87 billion, a P/E ratio of 49.73, a PEG ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million during the quarter, compared to analysts' expectations of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter in the prior year, the company posted $0.28 earnings per share. Sell-side analysts forecast that Brookfield Asset Management will post 1.43 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 2.83%. Brookfield Asset Management's dividend payout ratio (DPR) is 140.74%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BAM. Massmutual Trust Co. FSB ADV raised its holdings in shares of Brookfield Asset Management by 98.2% during the second 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 during the last quarter. Continuum Advisory LLC lifted its holdings in Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 758 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in 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 worth $37,000 after purchasing an additional 755 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its holdings in shares of Brookfield Asset Management by 151.3% during the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider's stock worth $40,000 after buying an additional 640 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.