Brookfield Asset Management (NYSE:BAM) Price Target Raised to $57.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective raised by Keefe, Bruyette & Woods from $49.00 to $57.00 in a research note published on Friday morning, MarketBeat Ratings reports. The brokerage currently has an underperform rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the company. BMO Capital Markets upped their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their price target on Brookfield Asset Management from $51.00 to $56.00 and gave the stock an “underweight” rating in a research report on Thursday, December 12th. Scotiabank increased their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, 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 report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.54.

Brookfield Asset Management Stock Up 0.4 %

BAM stock opened at $54.42 on Friday. The company has a 50-day simple moving average of $55.11 and a 200 day simple moving average of $46.38. The company has a market capitalization of $24.11 billion, a P/E ratio of 48.16, a PEG ratio of 2.43 and a beta of 1.41. Brookfield Asset Management has a fifty-two week low of $37.19 and a fifty-two week high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced 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. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities analysts anticipate 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. Stockholders of record on Friday, November 29th will be paid a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.79%. Brookfield Asset Management’s dividend payout ratio is presently 134.51%.

Institutional Trading of Brookfield Asset Management

Several large investors have recently made changes to their positions in BAM. Public Sector Pension Investment Board increased its holdings in shares of Brookfield Asset Management by 0.4% in the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock valued at $2,201,000 after purchasing an additional 188 shares in the last quarter. Pathstone Holdings LLC increased its holdings in Brookfield Asset Management by 1.0% in the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after purchasing an additional 278 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in Brookfield Asset Management by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock valued at $315,000 after buying an additional 315 shares during the period. Continuum Advisory LLC grew its holdings in shares of Brookfield Asset Management by 42.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after buying an additional 329 shares during the period. Finally, Procyon Advisors LLC raised its stake in Brookfield Asset Management by 4.2% during the 3rd quarter. Procyon Advisors LLC now owns 9,063 shares of the financial services provider’s stock worth $429,000 after buying an additional 366 shares during the period. 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.