Brookfield Asset Management (NYSE:BAM) Price Target Raised to $63.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target raised by The Goldman Sachs Group from $57.00 to $63.00 in a research note published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on BAM. Royal Bank of Canada upped their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America increased their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. BMO Capital Markets lifted their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods increased their price objective on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $53.46.

Brookfield Asset Management Stock Down 0.2 %

Shares of NYSE BAM opened at $55.45 on Tuesday. The firm has a 50-day simple moving average of $51.14 and a 200-day simple moving average of $43.93. The stock has a market capitalization of $24.56 billion, a price-to-earnings ratio of 49.07, a price-to-earnings-growth ratio of 2.29 and a beta of 1.42. Brookfield Asset Management has a 52 week low of $33.45 and a 52 week high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, equities research analysts expect that Brookfield Asset Management will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Institutional Trading of Brookfield Asset Management

Several hedge funds have recently made changes to their positions in the business. TD Asset Management Inc increased its stake in Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after buying an additional 1,066,015 shares during the period. Mackenzie Financial Corp increased its position in shares of Brookfield Asset Management by 19.5% during the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after acquiring an additional 2,205,040 shares during the period. Vanguard Group Inc. raised its stake in shares of Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock valued at $452,153,000 after acquiring an additional 186,765 shares in the last quarter. Bank of Montreal Can boosted its holdings in Brookfield Asset Management by 0.5% in the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after purchasing an additional 43,134 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Brookfield Asset Management by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares in the last quarter. 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.