Brookfield Asset Management (NYSE:BAM) Stock Gets Price Target Trim from UBS Group

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price cut by UBS Group from $55.00 to $49.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

BAM has been the topic of several other research reports. Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Sunday, October 4th. Deutsche Bank Aktiengesellschaft increased their price target on Brookfield Asset Management from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Scotiabank reissued an “outperform” rating and set a $59.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 6th. Weiss Ratings raised Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Scotia lifted their price objective on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the company a “sector outperform” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of “Moderate Buy” and an average target price of $57.22.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $45.95 on Tuesday. The firm’s 50 day moving average is $48.55 and its two-hundred day moving average is $47.73. Brookfield Asset Management has a 52 week low of $42.20 and a 52 week high of $56.42. The firm has a market capitalization of $75.28 billion, a P/E ratio of 25.64, a PEG ratio of 1.84 and a beta of 1.31. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. Analysts anticipate that Brookfield Asset Management will post 1.78 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were given a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Monday, August 31st. Brookfield Asset Management’s dividend payout ratio is 116.86%.

Hedge Funds Weigh In On Brookfield Asset Management

Several hedge funds have recently modified their holdings of BAM. Principal Financial Group Inc. raised its stake in shares of Brookfield Asset Management by 62.0% in the 1st quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock worth $566,092,000 after buying an additional 4,872,090 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Brookfield Asset Management by 15.6% during the first quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider’s stock valued at $236,308,000 after buying an additional 716,892 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Brookfield Asset Management by 6.3% during the second quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider’s stock valued at $227,422,000 after buying an additional 294,966 shares in the last quarter. Bank of America Corp DE grew its holdings in Brookfield Asset Management by 11.0% during the first quarter. Bank of America Corp DE now owns 3,448,351 shares of the financial services provider’s stock worth $153,279,000 after acquiring an additional 341,600 shares during the period. Finally, Corient Private Wealth LLC grew its holdings in Brookfield Asset Management by 1.5% during the fourth quarter. Corient Private Wealth LLC now owns 1,387,375 shares of the financial services provider’s stock worth $72,304,000 after acquiring an additional 20,586 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.