BMO Capital Markets Issues Positive Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price hoisted by BMO Capital Markets from $40.00 to $50.00 in a report released on Tuesday,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. TD Securities lifted their price objective on Brookfield Asset Management from $50.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Scotiabank raised their price target on shares of Brookfield Asset Management from $45.50 to $55.50 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective on the stock. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company increased their price target on Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $52.29.

Brookfield Asset Management Stock Up 0.8 %

BAM stock opened at $56.39 on Tuesday. Brookfield Asset Management has a 52-week low of $30.68 and a 52-week high of $57.48. The stock has a market cap of $25.05 billion, a price-to-earnings ratio of 49.90, a price-to-earnings-growth ratio of 2.63 and a beta of 1.42. The business has a fifty day moving average of $48.39 and a two-hundred day moving average of $42.76.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 91.12% and a net margin of 49.69%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company earned $0.35 EPS. As a group, sell-side analysts anticipate that Brookfield Asset Management will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.70%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently bought and sold shares of BAM. Bank of Nova Scotia Trust Co. increased its position in Brookfield Asset Management by 4.4% during the first quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock worth $261,000 after buying an additional 263 shares during the period. CWM LLC boosted its holdings in shares of Brookfield Asset Management by 12.2% in the second quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 267 shares during the period. Pathstone Holdings LLC grew its position in shares of Brookfield Asset Management by 1.0% during the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after acquiring an additional 278 shares during the last quarter. Choate Investment Advisors increased its holdings in shares of Brookfield Asset Management by 3.3% in the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 285 shares during the period. Finally, Continuum Advisory LLC raised its position in Brookfield Asset Management by 57.6% in the 2nd 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 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.