Brookfield Asset Management (NYSE:BAM) Shares Down 5.1% – What’s Next?

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A)’s stock price fell 5.1% during trading on Thursday . The stock traded as low as $49.92 and last traded at $51.20. 402,479 shares traded hands during trading, a decline of 68% from the average session volume of 1,239,891 shares. The stock had previously closed at $53.97.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BAM shares. Wells Fargo & Company decreased their price objective on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a report on Thursday, February 13th. TD Securities boosted their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods reduced their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. Finally, The Goldman Sachs Group boosted their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Price Performance

The firm has a market cap of $22.58 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 1.92 and a beta of 1.46. The firm has a 50-day simple moving average of $56.72 and a 200 day simple moving average of $52.66.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.43%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.58%.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Brookfield Asset Management by 2.3% during the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after acquiring an additional 447,642 shares in the last quarter. Vanguard Group Inc. increased its holdings in Brookfield Asset Management by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after buying an additional 263,660 shares in the last quarter. TD Asset Management Inc. increased its holdings in Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after buying an additional 1,359,126 shares in the last quarter. Capital International Investors increased its holdings in Brookfield Asset Management by 0.7% in the 4th quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock worth $873,354,000 after buying an additional 116,008 shares in the last quarter. Finally, FIL Ltd increased its holdings in Brookfield Asset Management by 3.9% in the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock worth $833,581,000 after buying an additional 574,978 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

About Brookfield Asset Management

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.