Brookfield Asset Management (NYSE:BAM) Given New $50.00 Price Target at TD Securities

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective hoisted by TD Securities from $49.00 to $50.00 in a research note published on Tuesday, BayStreet.CA reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other research analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Brookfield Asset Management from $41.00 to $42.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Jefferies Financial Group initiated coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They set a hold rating and a $43.00 price objective on the stock. Scotiabank lifted their target price on Brookfield Asset Management from $44.50 to $46.00 and gave the company an outperform rating in a research note on Thursday, August 1st. StockNews.com upgraded Brookfield Asset Management from a sell rating to a hold rating in a report on Tuesday, July 30th. Finally, CIBC raised their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an outperformer rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of Hold and an average price target of $42.46.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM remained flat at $39.63 on Tuesday. 977,648 shares of the stock traded hands, compared to its average volume of 1,338,058. Brookfield Asset Management has a one year low of $28.35 and a one year high of $44.38. The stock has a market capitalization of $17.59 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57. The firm’s 50 day moving average price is $39.59 and its 200 day moving average price is $40.13.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $884.00 million for the quarter. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. As a group, equities analysts expect that Brookfield Asset Management will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently modified their holdings of the company. Asset Management One Co. Ltd. increased its holdings in shares of Brookfield Asset Management by 127.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 62,914 shares of the financial services provider’s stock valued at $2,537,000 after purchasing an additional 35,300 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Brookfield Asset Management in the 4th quarter valued at $4,160,000. DekaBank Deutsche Girozentrale increased its position in Brookfield Asset Management by 50.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 54,756 shares of the financial services provider’s stock worth $2,122,000 after buying an additional 18,463 shares during the period. Moseley Investment Management Inc. acquired a new stake in shares of Brookfield Asset Management during the fourth quarter worth $233,000. Finally, Hemington Wealth Management acquired a new position in shares of Brookfield Asset Management in the fourth quarter valued at about $211,000. 68.41% of the stock is owned by institutional investors.

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.