Brookfield Asset Management Ltd. (NYSE:BAM) Receives $63.94 Consensus Target Price from Analysts

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been given an average recommendation of “Moderate Buy” by the eighteen analysts that are presently covering the stock, MarketBeat reports. Two investment 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 12 month target price among brokerages that have updated their coverage on the stock in the last year is $63.6471.

Several analysts have issued reports on the company. The Goldman Sachs Group dropped their price target on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Scotiabank set a $64.00 target price on Brookfield Asset Management and gave the company an “outperform” rating in a research report on Thursday, February 5th. Loop Capital set a $60.00 price target on Brookfield Asset Management in a research report on Tuesday, January 6th. National Bank Financial decreased their price target on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a research report on Monday, November 10th.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $50.60 on Tuesday. 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 has a 12-month low of $41.78 and a 12-month high of $64.10. The firm has a fifty day moving average of $52.10 and a 200-day moving average of $54.87. The firm has a market capitalization of $82.88 billion, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 1.84 and a beta of 1.40.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%. On average, equities research analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a dividend of $0.5025 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.01 annualized dividend and a yield of 4.0%. Brookfield Asset Management’s payout ratio is presently 115.13%.

Institutional Trading of Brookfield Asset Management

A number of hedge funds and other institutional investors have recently modified their holdings of BAM. Norges Bank acquired a new position in Brookfield Asset Management during the second quarter valued at approximately $294,730,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Brookfield Asset Management by 88,805.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider’s stock worth $247,559,000 after purchasing an additional 4,719,999 shares in the last quarter. State Street Corp boosted its holdings in shares of Brookfield Asset Management by 11,172.2% in the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after buying an additional 3,493,431 shares during the last quarter. GFI Investment Counsel Ltd. bought a new position in shares of Brookfield Asset Management in the fourth quarter valued at $182,090,000. Finally, CIBC Asset Management Inc grew its stake in shares of Brookfield Asset Management by 99.1% in the fourth quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider’s stock valued at $255,449,000 after buying an additional 2,415,593 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

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.