Brookfield Asset Management (NYSE:BAM) PT Raised to $47.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target lifted by The Goldman Sachs Group from $41.00 to $47.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

BAM has been the topic of several other research reports. Scotiabank decreased their price target on Brookfield Asset Management from $46.00 to $45.50 and set a sector outperform rating on the stock in a report on Thursday, August 8th. CIBC raised their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an outperformer rating in a report on Friday, July 19th. Wells Fargo & Company initiated coverage on shares of Brookfield Asset Management in a research note on Thursday. They set an underweight rating and a $42.00 price target for the company. TD Securities increased their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $43.81.

Brookfield Asset Management Stock Up 0.3 %

Shares of NYSE:BAM opened at $44.85 on Thursday. The firm has a fifty day simple moving average of $41.11 and a two-hundred day simple moving average of $40.28. Brookfield Asset Management has a 52 week low of $28.35 and a 52 week high of $45.24. The stock has a market capitalization of $19.91 billion, a P/E ratio of 41.53, a PEG ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business posted $0.28 EPS. On average, analysts expect that Brookfield Asset Management will post 1.42 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of large investors have recently added to or reduced their stakes in the company. Beutel Goodman & Co Ltd. increased its stake in Brookfield Asset Management by 114.5% during the 4th 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 in the last quarter. National Bank of Canada FI raised its stake in Brookfield Asset Management by 15.5% in the 1st quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock worth $31,742,000 after acquiring an additional 107,245 shares during the last quarter. Hsbc Holdings PLC grew its stake in Brookfield Asset Management by 42.4% during the 4th quarter. Hsbc Holdings PLC now owns 628,945 shares of the financial services provider’s stock valued at $25,265,000 after purchasing an additional 187,250 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Brookfield Asset Management by 17.1% in the fourth quarter. Wells Fargo & Company MN now owns 692,801 shares of the financial services provider’s stock valued at $27,842,000 after purchasing an additional 100,997 shares during the period. Finally, Partners Value Investments L.P. raised its stake in shares of Brookfield Asset Management by 0.9% in the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after purchasing an additional 280,098 shares during the last quarter. 68.41% of the stock is currently 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.