Brokerages Set Brookfield Asset Management Ltd. (NYSE:BAM) Target Price at $42.20

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

Several research analysts have recently commented on the company. CIBC raised their price objective on Brookfield Asset Management from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. HSBC lowered shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. TD Securities decreased their price objective on shares of Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating on the stock in a research report on Tuesday, January 9th. Scotiabank upped their target price on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 8th. Finally, Royal Bank of Canada raised their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, February 8th.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors have recently added to or reduced their stakes in the company. Private Trust Co. NA raised its stake in Brookfield Asset Management by 180.4% during the third quarter. Private Trust Co. NA now owns 1,057 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 680 shares in the last quarter. BNP Paribas Arbitrage SA raised its position 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 buying an additional 277 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Brookfield Asset Management by 106.4% in the 3rd quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 764 shares during the last quarter. Bfsg LLC purchased a new position in Brookfield Asset Management in the fourth quarter worth about $51,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Brookfield Asset Management by 39.6% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Trading Up 1.5 %

Shares of BAM stock opened at $39.04 on Friday. The company has a 50 day simple moving average of $41.06 and a two-hundred day simple moving average of $37.47. The stock has a market cap of $16.13 billion, a P/E ratio of 34.55, a P/E/G ratio of 1.48 and a beta of 1.68. Brookfield Asset Management has a 12 month low of $28.35 and a 12 month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $1.13 billion during the quarter. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. During the same quarter last year, the company earned $0.31 earnings per share. As a group, equities analysts forecast that Brookfield Asset Management will post 1.49 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.89%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, February 28th. Brookfield Asset Management’s payout ratio is 134.51%.

Brookfield Asset Management Company Profile

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.