Brookfield Asset Management (NYSE:BAM) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research note released on Friday, Marketbeat reports. The firm issued a hold rating and a $43.00 price target on the financial services provider’s stock.

Other research analysts have also recently issued reports about the company. CIBC raised their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an outperformer rating in a research note on Friday, July 19th. StockNews.com upgraded Brookfield Asset Management from a sell rating to a hold rating in a research note on Tuesday. Scotiabank raised their price objective on Brookfield Asset Management from $44.50 to $46.00 and gave the stock an outperform rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on Brookfield Asset Management from $41.00 to $42.00 and gave the stock a neutral rating in a report on Wednesday. Finally, Royal Bank of Canada raised their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an outperform rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $42.58.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $40.76 on Friday. The stock has a 50-day moving average of $39.59 and a two-hundred day moving average of $40.09. Brookfield Asset Management has a one year low of $28.35 and a one year high of $44.38. The stock has a market cap of $18.09 billion, a PE ratio of 37.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The company had revenue of $884.00 million during the quarter. As a group, sell-side analysts predict that Brookfield Asset Management will post 1.47 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Friday, May 31st. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Brookfield Asset Management in the fourth quarter valued at $239,421,000. FIL Ltd raised its position in Brookfield Asset Management by 66.1% in the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after purchasing an additional 4,501,410 shares during the period. Beutel Goodman & Co Ltd. raised its position in Brookfield Asset Management by 114.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock valued at $279,387,000 after purchasing an additional 3,695,774 shares during the period. TD Asset Management Inc raised its position in Brookfield Asset Management by 29.2% in the fourth quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock valued at $464,078,000 after purchasing an additional 2,595,793 shares during the period. Finally, Capital World Investors raised its position in Brookfield Asset Management by 10.0% in the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after purchasing an additional 2,241,372 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

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.