Brokerages Set Brookfield Asset Management Ltd. (NYSE:BAM) PT at $63.65

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $63.6471.

A number of equities research analysts recently issued reports on the stock. Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a research note on Tuesday, January 6th. The Goldman Sachs Group reduced their price objective on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Royal Bank Of Canada set a $74.00 price target on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Monday, December 15th.

Hedge Funds Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently made changes to their positions in BAM. Zions Bancorporation National Association UT boosted its stake in shares of Brookfield Asset Management by 241.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 345 shares during the last quarter. Manchester Capital Management LLC increased its position in shares of Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 442 shares in the last quarter. LOM Asset Management Ltd acquired a new position in Brookfield Asset Management in the 4th quarter valued at $31,000. Sagard Holdings Management Inc. acquired a new position in Brookfield Asset Management in the 2nd quarter valued at $39,000. Finally, eCIO Inc. purchased a new position in Brookfield Asset Management in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $43.71 on Friday. The company has a market capitalization of $71.59 billion, a P/E ratio of 28.75, a P/E/G ratio of 1.52 and a beta of 1.42. The business’s 50 day moving average is $49.95 and its two-hundred day moving average is $53.16. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. Brookfield Asset Management has a 12-month low of $41.78 and a 12-month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%. Analysts expect that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a dividend of $0.5025 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. This represents a $2.01 annualized dividend and a yield of 4.6%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.24%.

About Brookfield Asset Management

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.