Brokerages Set Brookfield Asset Management Ltd. (NYSE:BAM) Target Price at $63.38

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have earned a consensus rating of “Moderate Buy” from the twenty research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $63.3750.

A number of analysts have issued reports on BAM shares. Scotiabank decreased their target price on Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a research report on Monday, November 10th. Morgan Stanley set a $62.00 price objective on Brookfield Asset Management in a report on Monday, October 13th. Royal Bank Of Canada set a $74.00 price objective on shares of Brookfield Asset Management and gave the company an “outperform” rating in a report on Monday, December 15th. UBS Group set a $58.00 target price on shares of Brookfield Asset Management and gave the stock a “neutral” rating in a research note on Tuesday, January 13th. Finally, Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th.

Brookfield Asset Management Stock Down 0.7%

BAM opened at $51.26 on Friday. Brookfield Asset Management has a twelve month low of $41.78 and a twelve month high of $64.10. The company’s 50-day moving average price is $52.58 and its two-hundred day moving average price is $56.17. The stock has a market cap of $83.96 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 2.20 and a beta of 1.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.34 billion. As a group, equities analysts expect that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were issued a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.4%. Brookfield Asset Management’s payout ratio is presently 109.38%.

Hedge Funds Weigh In On Brookfield Asset Management

Several hedge funds have recently made changes to their positions in BAM. PDS Planning Inc raised its stake in shares of Brookfield Asset Management by 4.8% during the 3rd quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 184 shares during the period. Truist Financial Corp grew its holdings in Brookfield Asset Management by 1.4% during the 3rd quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock valued at $754,000 after buying an additional 187 shares in the last quarter. GoalVest Advisory LLC increased its position in shares of Brookfield Asset Management by 9.5% during the second quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider’s stock valued at $121,000 after buying an additional 190 shares during the period. Focus Financial Network Inc. lifted its holdings in shares of Brookfield Asset Management by 4.6% in the fourth quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider’s stock worth $232,000 after buying an additional 194 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in shares of Brookfield Asset Management by 2.1% in the third quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider’s stock worth $627,000 after buying an additional 226 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.