Brookfield Asset Management (NYSE:BAM) Price Target Raised to $72.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target upped by National Bank Financial from $70.00 to $72.00 in a research note released on Monday morning,BayStreet reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on BAM. Royal Bank Of Canada set a $65.00 price target on Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Friday, September 18th. Bank of America cut their price objective on shares of Brookfield Asset Management from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Weiss Ratings upgraded shares of Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Wells Fargo & Company started coverage on Brookfield Asset Management in a research note on Friday, October 2nd. They set an “overweight” rating and a $41.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.30.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $52.58 on Monday. Brookfield Asset Management has a 12 month low of $42.20 and a 12 month high of $55.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.61 and a quick ratio of 0.75. The stock’s 50 day moving average price is $47.32 and its 200 day moving average price is $47.89. The stock has a market cap of $84.01 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.21 and a beta of 1.27.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, November 6th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. Brookfield Asset Management had a return on equity of 30.24% and a net margin of 71.24%. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Equities research analysts anticipate that Brookfield Asset Management will post 1.77 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, November 30th will be given a dividend of $0.5025 per share. The ex-dividend date is Monday, November 30th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 3.8%. Brookfield Asset Management’s dividend payout ratio (DPR) is 68.84%.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors have recently bought and sold shares of BAM. Signaturefd LLC raised its holdings in shares of Brookfield Asset Management by 3.1% in the third quarter. Signaturefd LLC now owns 8,330 shares of the financial services provider’s stock valued at $371,000 after buying an additional 253 shares during the last quarter. Crescent Grove Advisors LLC boosted its position in shares of Brookfield Asset Management by 6.2% in the 1st quarter. Crescent Grove Advisors LLC now owns 5,100 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 300 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Brookfield Asset Management by 22.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,674 shares of the financial services provider’s stock worth $75,000 after buying an additional 304 shares during the period. NewEdge Wealth LLC increased its stake in Brookfield Asset Management by 6.4% in the first quarter. NewEdge Wealth LLC now owns 5,739 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 344 shares in the last quarter. Finally, MGO One Seven LLC increased its position in shares of Brookfield Asset Management by 7.9% in the 3rd quarter. MGO One Seven LLC now owns 5,096 shares of the financial services provider’s stock valued at $227,000 after buying an additional 371 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager that invests in and manages assets on behalf of institutional and private wealth clients. Its investment strategies span infrastructure, renewable power and transition, private equity, real estate, and credit. The company operates across North America, South America, Europe, the Middle East, and Asia-Pacific. Its businesses invest in and manage assets such as energy and transportation infrastructure, renewable power facilities, real estate, and companies across a range of industries.