Brookfield Asset Management (NYSE:BAM) Price Target Lowered to $65.00 at Bank of America

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective decreased by Bank of America from $69.00 to $65.00 in a report issued on Friday morning,Benzinga reports. Bank of America currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. BMO Capital Markets upped their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods decreased their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, UBS Group assumed coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.04.

Brookfield Asset Management Price Performance

NYSE BAM opened at $44.21 on Friday. The company has a market capitalization of $72.39 billion, a price-to-earnings ratio of 33.49, a price-to-earnings-growth ratio of 1.92 and a beta of 1.62. Brookfield Asset Management has a 12 month low of $37.29 and a 12 month high of $62.61. The company’s fifty day moving average price is $53.89 and its two-hundred day moving average price is $53.64.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, analysts anticipate that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were issued a $0.4375 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.96%. Brookfield Asset Management’s dividend payout ratio (DPR) is 132.58%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in Brookfield Asset Management by 2.3% during the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after purchasing an additional 447,642 shares in the last quarter. Vanguard Group Inc. boosted its stake in Brookfield Asset Management by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock valued at $916,676,000 after buying an additional 263,660 shares in the last quarter. TD Asset Management Inc. grew its holdings in Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after acquiring an additional 1,359,126 shares during the period. Capital International Investors raised its position in Brookfield Asset Management by 0.7% in the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock worth $873,354,000 after acquiring an additional 116,008 shares in the last quarter. Finally, FIL Ltd lifted its holdings in Brookfield Asset Management by 3.9% in the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock valued at $833,581,000 after acquiring an additional 574,978 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

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.