Brookfield Asset Management Ltd. (NYSE:BAM) Receives $56.42 Consensus Price Target from Analysts

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned an average rating of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $56.71.

BAM has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Scotiabank reduced their target price on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research note on Thursday. Royal Bank of Canada upped their target price 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. Finally, CIBC upped their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th.

Brookfield Asset Management Trading Up 4.5 %

Shares of BAM stock opened at $57.60 on Friday. The firm has a market capitalization of $25.52 billion, a PE ratio of 50.97, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46. The firm has a fifty day simple moving average of $56.41 and a two-hundred day simple moving average of $50.89. Brookfield Asset Management has a 12 month low of $37.29 and a 12 month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. On average, equities analysts predict that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.04%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after buying an additional 168,170 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after buying an additional 10,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Brookfield Asset Management by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock worth $39,516,000 after buying an additional 45,670 shares in the last quarter. LGT Capital Partners LTD. lifted its holdings in shares of Brookfield Asset Management by 11.5% in the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock worth $25,273,000 after buying an additional 55,000 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after buying an additional 370,383 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

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.