Brookfield Asset Management Ltd. (NYSE:BAM – Get Free Report) (TSE:BAM.A) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $47.86 and traded as high as $52.74. Brookfield Asset Management shares last traded at $52.1050, with a volume of 1,467,388 shares changing hands.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on BAM shares. Canadian Imperial Bank of Commerce set a $62.50 target price on Brookfield Asset Management in a report on Monday, May 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of Brookfield Asset Management in a research report on Wednesday, August 12th. Piper Sandler reissued a “neutral” rating and issued a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Scotia boosted their price objective on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.32.
Check Out Our Latest Stock Report on BAM
Brookfield Asset Management Stock Up 0.2%
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. On average, analysts predict that Brookfield Asset Management Ltd. will post 1.78 earnings per share for the current year.
Brookfield Asset Management Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Asset Management’s dividend payout ratio is currently 116.86%.
Institutional Investors Weigh In On Brookfield Asset Management
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Brookfield Asset Management by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock valued at $928,414,000 after buying an additional 297,790 shares in the last quarter. TD Asset Management Inc increased its position in Brookfield Asset Management by 2.0% in the 4th quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider’s stock valued at $827,135,000 after acquiring an additional 315,036 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Brookfield Asset Management by 62.0% in the first quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock worth $566,092,000 after acquiring an additional 4,872,090 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Asset Management by 15.6% in the first quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider’s stock worth $236,308,000 after acquiring an additional 716,892 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Brookfield Asset Management during the fourth quarter worth approximately $263,444,000. Institutional investors and hedge funds own 68.41% of the company’s stock.
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.
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