Brookfield Asset Management (NYSE:BAM) Price Target Raised to $50.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price increased by TD Securities from $49.00 to $50.00 in a research note released on Tuesday, BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

Several other analysts have also issued reports on BAM. StockNews.com upgraded shares of Brookfield Asset Management from a sell rating to a hold rating in a research report on Tuesday, July 30th. Scotiabank upped their price objective on shares of Brookfield Asset Management from $44.50 to $46.00 and gave the company an outperform rating in a research note on Thursday, August 1st. Jefferies Financial Group initiated coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They issued a hold rating and a $43.00 target price on the stock. Royal Bank of Canada increased their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company an outperform rating in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Brookfield Asset Management from $41.00 to $42.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $42.46.

Brookfield Asset Management Price Performance

BAM remained flat at $39.63 during trading on Tuesday. The company’s stock had a trading volume of 977,648 shares, compared to its average volume of 1,338,058. The company has a market cap 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. Brookfield Asset Management has a one year low of $28.35 and a one year high of $44.38. The business’s fifty day moving average price is $39.59 and its two-hundred day moving average price is $40.13.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The firm 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%. Equities research analysts forecast that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

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

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors have recently modified their holdings of the company. YHB Investment Advisors Inc. purchased a new stake in Brookfield Asset Management during the first quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV raised its stake in Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 385 shares in the last quarter. Continuum Advisory LLC lifted its position in Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 758 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its holdings in shares of Brookfield Asset Management by 151.3% during the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 640 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other 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.