Brookfield Asset Management (NYSE:BAM) Reaches New 1-Year High at $48.15

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) reached a new 52-week high during trading on Wednesday . The company traded as high as $48.15 and last traded at $48.08, with a volume of 54367 shares traded. The stock had previously closed at $47.57.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America raised their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Jefferies Financial Group started coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price for the company. The Goldman Sachs Group increased their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Monday. Finally, TD Securities boosted their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $44.19.

Brookfield Asset Management Price Performance

The company has a market cap of $21.26 billion, a price-to-earnings ratio of 44.05, a P/E/G ratio of 2.36 and a beta of 1.56. The firm has a fifty day simple moving average of $42.57 and a 200 day simple moving average of $40.71.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results 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). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The firm had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business earned $0.28 earnings per share. Analysts expect that Brookfield Asset Management Ltd. will post 1.42 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s payout ratio is presently 140.74%.

Institutional Trading of Brookfield Asset Management

Institutional investors have recently bought and sold shares of the business. National Bank of Canada FI increased its stake in Brookfield Asset Management by 15.5% during the 1st quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock worth $31,742,000 after purchasing an additional 107,245 shares in the last quarter. Partners Value Investments L.P. increased its position in Brookfield Asset Management by 0.9% during the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after acquiring an additional 280,098 shares during the period. Confluence Investment Management LLC grew its position in Brookfield Asset Management by 382.6% during the second quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock worth $3,420,000 after buying an additional 71,263 shares in the last quarter. Prudential PLC increased its position in shares of Brookfield Asset Management by 20.0% in the fourth quarter. Prudential PLC now owns 223,536 shares of the financial services provider’s stock worth $8,979,000 after purchasing an additional 37,212 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Brookfield Asset Management in the 1st quarter valued at approximately $3,014,000. 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.