Brookfield Asset Management Ltd. (NYSE:BAM) Receives $47.41 Consensus PT from Analysts

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A has been assigned an average recommendation of "Hold" from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has 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 1 year price objective among analysts that have issued a report on the stock in the last year is $47.41.

A number of research firms recently weighed in on BAM. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. BMO Capital Markets increased their target price on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. dropped their target price on Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. CIBC increased their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an "outperformer" rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group initiated coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They issued a "hold" rating and a $43.00 price objective for the company.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $53.55 on Wednesday. Brookfield Asset Management has a 1 year low of $28.35 and a 1 year high of $53.73. The company has a market capitalization of $23.76 billion, a P/E ratio of 49.58, a P/E/G ratio of 2.26 and a beta of 1.56. The company has a 50 day simple moving average of $46.16 and a 200-day simple moving average of $41.90.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). The business had revenue of $916.00 million for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.28 earnings per share. As a group, research analysts expect that Brookfield Asset Management will post 1.43 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 2.84%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 140.74%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. National Bank of Canada FI boosted its holdings in shares of Brookfield Asset Management by 15.5% in the 1st quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider's stock valued at $31,742,000 after buying an additional 107,245 shares in the last quarter. Confluence Investment Management LLC increased its position in shares of Brookfield Asset Management by 382.6% during the second quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider's stock worth $3,420,000 after purchasing an additional 71,263 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Brookfield Asset Management in the 1st quarter valued at about $3,014,000. Intact Investment Management Inc. acquired a new stake in shares of Brookfield Asset Management in the 2nd quarter valued at about $4,825,000. Finally, Pitcairn Co. purchased a new position in Brookfield Asset Management during the 1st quarter worth approximately $525,000. 68.41% of the stock is owned by institutional investors and hedge funds.

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.