Brookfield Asset Management (NYSE:BAM) Price Target Cut to $54.00 by Analysts at Wells Fargo & Company

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target lowered by Wells Fargo & Company from $55.00 to $54.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an underweight rating on the financial services provider’s stock.

BAM has been the topic of a number of other research reports. Keefe, Bruyette & Woods cut their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group increased their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. TD Securities raised their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday. Finally, UBS Group began coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Price Performance

BAM opened at $57.60 on Thursday. Brookfield Asset Management has a one year low of $37.29 and a one year high of $62.61. The business has a 50 day simple moving average of $56.41 and a two-hundred day simple moving average of $50.89. The firm has a market capitalization of $25.52 billion, a price-to-earnings ratio of 50.97, a PEG ratio of 2.18 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. As a group, sell-side analysts expect that Brookfield Asset Management will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.04%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

Hedge Funds Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BAM. Tandem Capital Management Corp ADV raised its stake in shares of Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock worth $2,119,000 after purchasing an additional 175 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Brookfield Asset Management by 0.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after buying an additional 188 shares in the last quarter. RE Dickinson Investment Advisors LLC raised its position in Brookfield Asset Management by 3.2% in the 4th quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider’s stock worth $377,000 after buying an additional 215 shares during the last quarter. Gold Investment Management Ltd. lifted its stake in Brookfield Asset Management by 0.5% during the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock valued at $2,271,000 after acquiring an additional 219 shares during the period. Finally, Procyon Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 2.7% during the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock valued at $505,000 after acquiring an additional 249 shares during the last quarter. 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.