Brookfield Asset Management (NYSE:BAM) Price Target Raised to $59.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $56.00 to $59.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities research analysts 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 on the stock in a report on Thursday, August 8th. TD Securities boosted their price target on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Jefferies Financial Group assumed coverage on 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. Finally, Wells Fargo & Company raised their price objective on Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $52.54.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $56.59 on Monday. Brookfield Asset Management has a 1-year low of $31.59 and a 1-year high of $58.53. The company has a market capitalization of $25.06 billion, a P/E ratio of 50.08, a P/E/G ratio of 2.47 and a beta of 1.42. The firm’s 50 day simple moving average is $49.05 and its two-hundred day simple moving average is $43.06.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter last year, the firm posted $0.35 earnings per share. On average, sell-side analysts anticipate that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.69%. Brookfield Asset Management’s payout ratio is 134.51%.

Institutional Trading of Brookfield Asset Management

Large investors have recently modified their holdings of the stock. Bank of Nova Scotia Trust Co. raised its position in Brookfield Asset Management by 4.4% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 263 shares during the period. CWM LLC grew its position in Brookfield Asset Management by 12.2% in the second quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 267 shares in the last quarter. Pathstone Holdings LLC lifted its stake in Brookfield Asset Management by 1.0% in the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 278 shares during the last quarter. Choate Investment Advisors grew its position in shares of Brookfield Asset Management by 3.3% during the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock worth $374,000 after buying an additional 285 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

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.