Brookfield Asset Management (NYSE:BAM) Earns Buy Rating from Analysts at UBS Group

UBS Group initiated coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on BAM. Wells Fargo & Company increased their price objective on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a report on Thursday, December 12th. Royal Bank of Canada raised their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Bank of America boosted their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Keefe, Bruyette & Woods boosted their price objective on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and a consensus price target of $53.88.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $58.72 on Monday. The company has a market capitalization of $24.64 billion, a P/E ratio of 51.96, a P/E/G ratio of 2.43 and a beta of 1.41. Brookfield Asset Management has a 1-year low of $37.19 and a 1-year high of $59.58. The firm’s 50 day simple moving average is $54.52 and its two-hundred day simple moving average is $45.99.

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, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company earned $0.35 EPS. On average, sell-side analysts anticipate that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.59%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BAM. Hara Capital LLC purchased a new position in Brookfield Asset Management in the third quarter worth $27,000. RPg Family Wealth Advisory LLC purchased a new position in Brookfield Asset Management during the 3rd quarter worth $27,000. Continuum Advisory LLC increased its position in Brookfield Asset Management by 57.6% during the 2nd 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 in the last quarter. Richardson Financial Services Inc. raised its stake in Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after buying an additional 755 shares during the last quarter. Finally, Legacy Bridge LLC acquired a new stake in Brookfield Asset Management in the second quarter worth about $52,000. Institutional investors 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.