Brookfield Asset Management (NYSE:BAM) Upgraded by National Bank Financial to Strong-Buy Rating

National Bank Financial upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on BAM. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. boosted their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Jefferies Financial Group decreased their target price on Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. Piper Sandler initiated coverage on Brookfield Asset Management in a research report on Monday, June 30th. They set a “neutral” rating and a $60.00 target price for the company. Finally, Royal Bank Of Canada initiated coverage on Brookfield Asset Management in a research report on Wednesday, June 18th. They set an “outperform” rating and a $72.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.63.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $62.76 on Monday. The business has a fifty day moving average of $57.02 and a 200-day moving average of $54.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market cap of $102.76 billion, a PE ratio of 44.51, a price-to-earnings-growth ratio of 2.44 and a beta of 1.43. Brookfield Asset Management has a twelve month low of $38.18 and a twelve month high of $63.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. On average, equities research analysts predict that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Asset Management’s payout ratio is 124.11%.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its stake in Brookfield Asset Management by 3.7% in the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock valued at $518,655,000 after acquiring an additional 339,072 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Brookfield Asset Management by 30.5% during the 4th quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider’s stock worth $4,033,000 after purchasing an additional 17,369 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Brookfield Asset Management by 36.6% during the 1st quarter. Cerity Partners LLC now owns 29,482 shares of the financial services provider’s stock worth $1,428,000 after purchasing an additional 7,901 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Brookfield Asset Management by 9.9% during the 1st quarter. Teacher Retirement System of Texas now owns 68,700 shares of the financial services provider’s stock worth $3,329,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in shares of Brookfield Asset Management during the 4th quarter worth approximately $412,000. 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.