Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $58.76 and last traded at $58.42, with a volume of 51084 shares changing hands. The stock had previously closed at $58.16.
BAM has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada boosted their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Canaccord Genuity set a $62.00 price objective on shares of Brookfield Asset Management and gave the company a “buy” rating in a research note on Friday, September 27th. Citigroup lowered Brookfield Asset Management from a “buy” rating to a “neutral” rating in a report on Monday, November 18th. Finally, TD Securities lifted their target price on Brookfield Asset Management from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.58.
The company has a quick ratio of 0.89, a current ratio of 1.11 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $61.03 billion, a price-to-earnings ratio of 15.70 and a beta of 1.06. The company has a fifty day moving average price of $56.25 and a two-hundred day moving average price of $51.47.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, November 14th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.80. Brookfield Asset Management had a net margin of 5.82% and a return on equity of 3.95%. The business had revenue of $17.88 billion for the quarter, compared to analysts’ expectations of $13.92 billion. During the same period in the previous year, the company posted $1.07 EPS. The company’s quarterly revenue was up 20.3% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.10%. The ex-dividend date is Wednesday, November 27th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Blueprint LLC acquired a new stake in shares of Brookfield Asset Management during the third quarter worth about $25,000. HM Payson & Co. purchased a new position in shares of Brookfield Asset Management during the second quarter worth about $32,000. KCS Wealth Advisory acquired a new position in Brookfield Asset Management in the 3rd quarter valued at about $40,000. Benjamin F. Edwards & Company Inc. increased its position in Brookfield Asset Management by 103.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 808 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 410 shares during the period. Finally, Prime Capital Investment Advisors LLC purchased a new stake in Brookfield Asset Management during the 3rd quarter valued at approximately $44,000. Institutional investors own 60.36% of the company’s stock.
Brookfield Asset Management Company Profile (NYSE:BAM)
Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.
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