The Goldman Sachs Group Boosts Brookfield Asset Management (NYSE:BAM) Price Target to $52.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target increased by The Goldman Sachs Group from $47.00 to $52.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research firms have also recently issued reports on BAM. JPMorgan Chase & Co. cut their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a neutral rating for the company in a research report on Thursday, August 8th. BMO Capital Markets increased their price target on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the company a market perform rating in a report on Wednesday, September 11th. Wells Fargo & Company initiated coverage on shares of Brookfield Asset Management in a report on Thursday, September 12th. They set an underweight rating and a $42.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a buy rating in a report on Thursday, August 8th. Finally, 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 research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $44.19.

Brookfield Asset Management Stock Up 0.3 %

Shares of NYSE:BAM opened at $47.72 on Monday. Brookfield Asset Management has a fifty-two week low of $28.35 and a fifty-two week high of $48.15. The firm’s 50-day simple moving average is $42.70 and its 200-day simple moving average is $40.76. The company has a market cap of $21.18 billion, a price-to-earnings ratio of 44.19, a PEG ratio of 2.36 and a beta of 1.56.

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

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 140.74%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors have recently made changes to their positions in BAM. YHB Investment Advisors Inc. acquired a new position in shares of Brookfield Asset Management in the first quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 385 shares during the last quarter. Continuum Advisory LLC grew its position in shares of 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 purchasing an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. increased 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 purchasing an additional 758 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its position in Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after buying an additional 755 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

About Brookfield Asset Management

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.