Brookfield Asset Management (NYSE:BAM) Given New $54.00 Price Target at Wells Fargo & Company

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target reduced by Wells Fargo & Company from $55.00 to $54.00 in a report released on Thursday,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. UBS Group started coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. Keefe, Bruyette & Woods cut their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. TD Securities raised their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada boosted their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Stock Performance

BAM stock opened at $57.60 on Thursday. The business’s 50-day moving average is $56.41 and its two-hundred day moving average is $50.89. The company has a market cap of $25.52 billion, a price-to-earnings ratio of 50.97, a P/E/G ratio of 2.18 and a beta of 1.46. Brookfield Asset Management has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. Equities analysts predict that Brookfield Asset Management will post 1.45 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.4375 per share. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.04%. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Institutional Trading of Brookfield Asset Management

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ritholtz Wealth Management bought a new stake in shares of Brookfield Asset Management in the third quarter worth about $232,000. Creative Planning grew its holdings in Brookfield Asset Management by 3.4% during the 3rd quarter. Creative Planning now owns 70,670 shares of the financial services provider’s stock valued at $3,342,000 after buying an additional 2,313 shares in the last quarter. Schubert & Co bought a new stake in Brookfield Asset Management in the 3rd quarter worth approximately $216,000. Compass Ion Advisors LLC purchased a new stake in shares of Brookfield Asset Management during the 3rd quarter worth approximately $251,000. Finally, Whittier Trust Co. boosted its position in shares of Brookfield Asset Management by 5.4% during the 3rd quarter. Whittier Trust Co. now owns 25,072 shares of the financial services provider’s stock valued at $1,186,000 after acquiring an additional 1,277 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

About Brookfield Asset Management

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.