Brookfield Asset Management (NYSE:BAM) PT Raised to $42.00 at JPMorgan Chase & Co.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective upped by JPMorgan Chase & Co. from $41.00 to $42.00 in a research report sent to investors on Wednesday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

Several other research firms have also issued reports on BAM. Royal Bank of Canada lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company an outperform rating in a research note on Monday, April 29th. Scotiabank cut their target price on Brookfield Asset Management from $47.00 to $44.50 and set a sector outperform rating on the stock in a research note on Thursday, May 9th. StockNews.com upgraded Brookfield Asset Management from a sell rating to a hold rating in a research note on Tuesday, July 30th. Finally, CIBC lifted their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the company an outperformer rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $42.58.

Brookfield Asset Management Stock Down 2.9 %

BAM stock opened at $40.76 on Wednesday. The business’s fifty day simple moving average is $39.59 and its two-hundred day simple moving average is $40.10. Brookfield Asset Management has a twelve month low of $28.35 and a twelve month high of $44.38. The firm has a market cap of $18.09 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 1.95 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, topping 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 business had revenue of $884.00 million for the quarter. Research analysts expect that Brookfield Asset Management will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Partners Value Investments L.P. raised its stake in Brookfield Asset Management by 0.9% in the 4th quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock valued at $1,237,556,000 after purchasing an additional 280,098 shares during the last quarter. Capital World Investors raised its stake in Brookfield Asset Management by 10.0% in the 4th 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 last quarter. TD Asset Management Inc raised its stake in Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after purchasing an additional 1,066,015 shares during the last quarter. FIL Ltd raised its stake in Brookfield Asset Management by 66.1% in the 4th 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 last quarter. Finally, Vanguard Group Inc. raised its stake in Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock valued at $452,153,000 after purchasing an additional 186,765 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

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.