Brokerages Set Brookfield Asset Management Ltd. (NYSE:BAM) Target Price at $53.88

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) have been given an average recommendation of “Hold” by the thirteen analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $54.54.

A number of analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group upped their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, UBS Group assumed coverage on Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating for the company.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BAM. The Manufacturers Life Insurance Company grew its position in shares of Brookfield Asset Management by 68.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares during the period. Mackenzie Financial Corp grew its holdings in Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after buying an additional 2,205,040 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Brookfield Asset Management during the 2nd quarter valued at about $42,160,000. TD Asset Management Inc lifted its holdings in shares of Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after acquiring an additional 1,066,015 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Brookfield Asset Management by 66.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after acquiring an additional 784,250 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Up 0.4 %

NYSE BAM opened at $54.42 on Thursday. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 48.16, a PEG ratio of 2.43 and a beta of 1.41. The business’s 50 day moving average is $55.11 and its two-hundred day moving average is $46.38. Brookfield Asset Management has a 12-month low of $37.19 and a 12-month high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. Equities analysts forecast that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.79%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 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.