Brokerages Set Brookfield Asset Management Ltd. (NYSE:BAM) PT at $61.76

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have received a consensus recommendation of “Hold” from the eighteen brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $61.0588.

Several equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Morgan Stanley dropped their target price on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Piper Sandler dropped their target price on Brookfield Asset Management from $53.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings raised Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 1st.

Brookfield Asset Management Price Performance

NYSE BAM opened at $48.82 on Friday. Brookfield Asset Management has a one year low of $42.20 and a one year high of $64.10. The stock has a 50-day moving average of $45.90 and a 200 day moving average of $50.13. The company has a market capitalization of $79.98 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 2.00 and a beta of 1.28. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. On average, sell-side analysts forecast that Brookfield Asset Management will post 1.74 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BAM. Cassaday & Co Wealth Management LLC purchased a new position in shares of Brookfield Asset Management during the 1st quarter worth $70,000. Carson Advisory Inc. boosted its stake in shares of Brookfield Asset Management by 8.7% during the 1st quarter. Carson Advisory Inc. now owns 8,754 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 700 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Brookfield Asset Management by 56.7% during the 1st quarter. Parallel Advisors LLC now owns 3,650 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 1,321 shares during the last quarter. Crescent Grove Advisors LLC boosted its stake in shares of Brookfield Asset Management by 6.3% during the 1st quarter. Crescent Grove Advisors LLC now owns 5,100 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 300 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in shares of Brookfield Asset Management by 21.3% during the 1st quarter. Sanctuary Advisors LLC now owns 5,389 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 946 shares during the last quarter. 68.41% of the stock is 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.