Brookfield Asset Management Ltd. (NYSE:BAM – Get Rating) (TSE:BAM.A) has earned a consensus rating of "Moderate Buy" from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $48.11.
A number of analysts have weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Brookfield Asset Management in a research report on Tuesday, December 20th. They set an "overweight" rating and a $35.00 target price for the company. The Goldman Sachs Group began coverage on Brookfield Asset Management in a research note on Tuesday, December 13th. They set a "buy" rating and a $40.00 price objective on the stock. CIBC initiated coverage on Brookfield Asset Management in a research note on Friday, December 16th. They set an "outperform" rating and a $37.00 target price on the stock. TheStreet lowered Brookfield Asset Management from a "b-" rating to a "c" rating in a report on Monday, November 28th. Finally, BMO Capital Markets initiated coverage on Brookfield Asset Management in a report on Tuesday, December 13th. They issued a "market perform" rating and a $32.00 price objective for the company.
Get Brookfield Asset Management alerts:Brookfield Asset Management Stock Performance
BAM stock opened at $31.51 on Thursday. The company's 50-day simple moving average is $36.43 and its 200 day simple moving average is $42.39. Brookfield Asset Management has a 52 week low of $26.76 and a 52 week high of $36.50.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last posted its quarterly earnings data on Thursday, November 10th. The financial services provider reported $0.24 earnings per share for the quarter. The firm had revenue of $23.42 billion for the quarter. As a group, analysts anticipate that Brookfield Asset Management will post 1.18 earnings per share for the current year.Brookfield Asset Management Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Tuesday, November 29th.
Insider Activity
In related news, insider Brookfield Asset Management In sold 2,135,176 shares of the firm's stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $24.09, for a total transaction of $51,436,389.84. Following the completion of the sale, the insider now directly owns 13,281,712 shares of the company's stock, valued at approximately $319,956,442.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brookfield Asset Management In sold 2,135,176 shares of Brookfield Asset Management stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $24.09, for a total value of $51,436,389.84. Following the transaction, the insider now directly owns 13,281,712 shares in the company, valued at approximately $319,956,442.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Oaktree Capital Management Lp sold 1,000,000 shares of the business's stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $9.60, for a total value of $9,600,000.00. Following the transaction, the insider now owns 6,797,000 shares in the company, valued at $65,251,200. The disclosure for this sale can be found here.
Institutional Investors Weigh In On Brookfield Asset Management
Large investors have recently bought and sold shares of the company. Gradient Investments LLC acquired a new position in Brookfield Asset Management during the third quarter worth $25,000. Ronald Blue Trust Inc. purchased a new position in shares of Brookfield Asset Management during the second quarter worth about $38,000. Nisa Investment Advisors LLC grew its holdings in shares of Brookfield Asset Management by 7,777.8% during the third quarter. Nisa Investment Advisors LLC now owns 709 shares of the financial services provider's stock worth $29,000 after purchasing an additional 700 shares during the last quarter. Optiver Holding B.V. grew its holdings in shares of Brookfield Asset Management by 212.1% during the second quarter. Optiver Holding B.V. now owns 774 shares of the financial services provider's stock worth $34,000 after buying an additional 526 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Brookfield Asset Management by 89.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 828 shares of the financial services provider's stock worth $34,000 after buying an additional 390 shares during the last quarter.
About Brookfield Asset Management
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Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.
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