Brookfield Asset Management Inc (BAM) PT Raised to $42.00

Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) had its price target increased by Royal Bank of Canada from $41.00 to $42.00 in a research note released on Friday morning. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on BAM. TheStreet raised shares of Brookfield Asset Management from a c+ rating to a b rating in a report on Friday, February 17th. Canaccord Genuity reaffirmed a buy rating and issued a $40.00 price target on shares of Brookfield Asset Management in a report on Thursday, February 9th. Finally, Citigroup Inc began coverage on shares of Brookfield Asset Management in a report on Thursday, January 19th. They issued a buy rating and a $39.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $41.24.

Brookfield Asset Management (NYSE:BAM) opened at 37.31 on Friday. The stock has a 50 day moving average price of $37.12 and a 200 day moving average price of $35.28. The company has a market cap of $35.78 billion, a price-to-earnings ratio of 24.07 and a beta of 0.95. Brookfield Asset Management has a 52 week low of $31.80 and a 52 week high of $38.99.

Brookfield Asset Management (NYSE:BAM) last released its quarterly earnings results on Thursday, May 11th. The financial services provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.26. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.02 billion. Brookfield Asset Management had a return on equity of 2.63% and a net margin of 6.76%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. On average, equities analysts forecast that Brookfield Asset Management will post $1.31 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.50%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 33.33%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC boosted its position in shares of Brookfield Asset Management by 0.5% in the first quarter. Signaturefd LLC now owns 9,975 shares of the financial services provider’s stock worth $364,000 after buying an additional 45 shares during the period. Essex Financial Services Inc. boosted its position in shares of Brookfield Asset Management by 1.2% in the fourth quarter. Essex Financial Services Inc. now owns 16,391 shares of the financial services provider’s stock worth $541,000 after buying an additional 189 shares during the period. Geode Capital Management LLC boosted its position in shares of Brookfield Asset Management by 4.2% in the first quarter. Geode Capital Management LLC now owns 7,262 shares of the financial services provider’s stock worth $264,000 after buying an additional 296 shares during the period. Allen Investment Management LLC boosted its position in shares of Brookfield Asset Management by 2.2% in the first quarter. Allen Investment Management LLC now owns 14,868 shares of the financial services provider’s stock worth $542,000 after buying an additional 321 shares during the period. Finally, Levin Capital Strategies L.P. boosted its position in shares of Brookfield Asset Management by 1.6% in the first quarter. Levin Capital Strategies L.P. now owns 21,000 shares of the financial services provider’s stock worth $766,000 after buying an additional 330 shares during the period. 53.48% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.

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