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

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $42.20.

Several research firms have recently issued reports on BAM. Royal Bank of Canada lifted their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $45.00 in a report on Monday, December 18th. Scotiabank lifted their price objective on Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 8th. TD Securities reduced their price objective on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a report on Tuesday, January 9th. Finally, BMO Capital Markets lifted their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, February 8th.

Brookfield Asset Management Stock Down 1.9 %

NYSE:BAM opened at $41.54 on Tuesday. The stock has a market cap of $17.16 billion, a P/E ratio of 36.76, a price-to-earnings-growth ratio of 1.54 and a beta of 1.69. The firm’s fifty day simple moving average is $40.63 and its 200 day simple moving average is $36.71. Brookfield Asset Management has a twelve month low of $28.35 and a twelve month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The business had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. During the same quarter last year, the firm earned $0.31 EPS. On average, analysts expect that Brookfield Asset Management will post 1.56 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th will be paid a dividend of $0.38 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Wednesday, February 28th. Brookfield Asset Management’s payout ratio is currently 134.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. grew its stake in shares of Brookfield Asset Management by 0.7% during the 1st quarter. American Century Companies Inc. now owns 38,228 shares of the financial services provider’s stock valued at $2,161,000 after acquiring an additional 268 shares during the period. NBC Securities Inc. grew its stake in shares of Brookfield Asset Management by 4.7% during the 4th quarter. NBC Securities Inc. now owns 6,139 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 277 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Brookfield Asset Management by 35.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,057 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 277 shares during the period. Jackson Hole Capital Partners LLC grew its stake in shares of Brookfield Asset Management by 3.1% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 9,770 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 291 shares during the period. Finally, Guardian Wealth Management Inc. grew its stake in shares of Brookfield Asset Management by 0.6% during the 1st quarter. Guardian Wealth Management Inc. now owns 54,530 shares of the financial services provider’s stock valued at $3,085,000 after acquiring an additional 313 shares during the period. 61.92% of the stock is currently owned by 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.