Brookfield Asset Management Ltd. (NYSE:BAM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have received a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $57.15.

BAM has been the topic of a number of recent research reports. Scotiabank dropped their price objective on shares of Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 7th. TD Securities raised their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Bank of America upgraded Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Thursday, April 10th. Jefferies Financial Group dropped their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Finally, Morgan Stanley reduced their price objective on Brookfield Asset Management from $62.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BAM. FMR LLC lifted its holdings in shares of Brookfield Asset Management by 2.3% in the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after acquiring an additional 447,642 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Brookfield Asset Management by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock valued at $916,676,000 after buying an additional 263,660 shares during the last quarter. TD Asset Management Inc. raised its position in shares of Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after acquiring an additional 1,359,126 shares during the last quarter. Capital International Investors lifted its holdings in Brookfield Asset Management by 0.7% in the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock valued at $873,354,000 after buying an additional 116,008 shares during the period. Finally, FIL Ltd grew its holdings in Brookfield Asset Management by 3.9% during the fourth quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock valued at $833,581,000 after purchasing an additional 574,978 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $49.45 on Wednesday. Brookfield Asset Management has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The firm has a 50-day simple moving average of $50.68 and a two-hundred day simple moving average of $53.63. The firm has a market cap of $80.96 billion, a P/E ratio of 37.46, a P/E/G ratio of 1.92 and a beta of 1.63.

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, equities research 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 was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is 132.58%.

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.