Brookfield Asset Management Ltd. (NYSE:BAM) Receives Average Recommendation of “Hold” from Brokerages

Brookfield Asset Management Ltd. (NYSE:BAM – Get Free Report) (TSE:BAM.A) has been given a consensus recommendation of “Hold” by the eighteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $60.2059.

A number of brokerages have weighed in on BAM. JPMorgan Chase & Co. reduced their price target on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Morgan Stanley dropped their target price on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. Scotiabank reissued an “outperform” rating and issued a $57.00 price target (up from $56.00) on shares of Brookfield Asset Management in a research note on Monday, May 11th. Finally, The Goldman Sachs Group lowered their price target on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, April 7th.

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Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently bought and sold shares of BAM. Zions Bancorporation National Association UT boosted its holdings in shares of Brookfield Asset Management by 241.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 345 shares during the last quarter. LOM Asset Management Ltd acquired a new stake in shares of Brookfield Asset Management during the 4th quarter worth $31,000. eCIO Inc. acquired a new stake in shares of Brookfield Asset Management during the 4th quarter worth $42,000. Cary Street Partners Financial LLC raised its position in shares of Brookfield Asset Management by 227.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after buying an additional 562 shares during the period. Finally, Assetmark Inc. raised its position in shares of Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after buying an additional 395 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $44.66 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $73.16 billion, a PE ratio of 29.00, a P/E/G ratio of 1.79 and a beta of 1.26. The firm has a 50 day simple moving average of $47.67 and a 200-day simple moving average of $48.80. Brookfield Asset Management has a 1-year low of $42.20 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last announced its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. On average, equities analysts expect that Brookfield Asset Management will post 1.75 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a $0.5025 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.01 annualized dividend and a dividend yield of 4.5%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 130.52%.

About Brookfield Asset Management

(Get Free Report)

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.

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