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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $56.38.

Several brokerages have issued reports on BAM. Keefe, Bruyette & Woods lowered their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company lowered their target price on Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a research report on Thursday, March 20th. Scotiabank reduced their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. BMO Capital Markets boosted their price target on 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. Finally, HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th.

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds have recently bought and sold shares of BAM. Truvestments Capital LLC increased its stake in shares of Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 419 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in Brookfield Asset Management in the 4th quarter valued at $32,000. Versant Capital Management Inc increased its position in Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after buying an additional 771 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Brookfield Asset Management by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after buying an additional 325 shares in the last quarter. Finally, Continuum Advisory LLC boosted its position in shares of Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 329 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

BAM stock opened at $50.77 on Friday. The stock has a market capitalization of $83.13 billion, a P/E ratio of 38.46, a P/E/G ratio of 1.92 and a beta of 1.62. Brookfield Asset Management has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The business has a 50-day moving average of $54.43 and a 200-day moving average of $53.70.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities analysts expect 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. The ex-dividend date was Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.45%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is 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.