Analysts Set Brookfield Asset Management Ltd. (NYSE:BAM) PT at $56.71

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $56.71.

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. The Goldman Sachs Group upped their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, BMO Capital Markets upped their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th.

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 bought a new position in Brookfield Asset Management during the third quarter valued at $27,000. RPg Family Wealth Advisory LLC bought a new position in Brookfield Asset Management during the 3rd quarter valued at about $27,000. Truvestments Capital LLC grew its holdings in Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 419 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in Brookfield Asset Management in the 4th quarter worth about $32,000. Finally, Versant Capital Management Inc lifted 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 worth $44,000 after purchasing an additional 771 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 6.8 %

Brookfield Asset Management stock opened at $50.28 on Tuesday. Brookfield Asset Management has a 12-month low of $37.29 and a 12-month high of $62.61. The firm has a market capitalization of $22.28 billion, a price-to-earnings ratio of 38.09, a P/E/G ratio of 1.92 and a beta of 1.46. The firm has a 50 day moving average of $56.61 and a 200 day moving average of $52.65.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, analysts predict that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a $0.4375 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.48%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.58%.

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.