Keefe, Bruyette & Woods reiterated their buy rating on shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) in a report released on Friday, May 12th. They currently have a $45.00 price objective on the financial services provider’s stock.
A number of other analysts have also recently weighed in on the stock. Royal Bank Of Canada restated a buy rating and set a $41.00 target price on shares of Brookfield Asset Management in a report on Wednesday, April 5th. Citigroup Inc. started coverage on shares of Brookfield Asset Management in a report on Thursday, January 19th. They set a buy rating and a $39.00 target price for the company. Canaccord Genuity reiterated a buy rating and issued a $40.00 target price on shares of Brookfield Asset Management in a research report on Thursday, February 9th. Finally, TheStreet upgraded shares of Brookfield Asset Management from a c+ rating to a b rating in a research report on Friday, February 17th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Brookfield Asset Management currently has a consensus rating of Buy and a consensus target price of $41.57.
Shares of Brookfield Asset Management (BAM) traded up 0.68% during trading on Friday, hitting $38.29. The stock had a trading volume of 720,748 shares. The stock’s 50-day moving average is $37.86 and its 200-day moving average is $35.88. The stock has a market cap of $36.70 billion, a price-to-earnings ratio of 30.71 and a beta of 1.04. Brookfield Asset Management has a 12-month low of $31.80 and a 12-month high of $38.99.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Thursday, May 11th. The financial services provider reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.18 by $0.26. Brookfield Asset Management had a negative return on equity of 1.30% and a net margin of 8.63%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the company posted $0.69 EPS. Brookfield Asset Management’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities research analysts expect that Brookfield Asset Management will post $1.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, May 26th. Brookfield Asset Management’s dividend payout ratio is presently 44.80%.
Several institutional investors have recently made changes to their positions in the company. Group One Trading L.P. bought a new position in shares of Brookfield Asset Management during the first quarter worth $186,000. Gould Asset Management LLC CA bought a new position in shares of Brookfield Asset Management during the first quarter worth $213,000. Fisher Asset Management LLC acquired a new stake in shares of Brookfield Asset Management during the first quarter valued at approximately $215,000. NN Investment Partners Holdings N.V. boosted its stake in shares of Brookfield Asset Management by 11.3% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 5,910 shares of the financial services provider’s stock valued at $195,000 after buying an additional 600 shares in the last quarter. Finally, Kings Point Capital Management boosted its stake in shares of Brookfield Asset Management by 82.7% in the first quarter. Kings Point Capital Management now owns 6,275 shares of the financial services provider’s stock valued at $229,000 after buying an additional 2,840 shares in the last quarter. 53.52% of the stock is owned by institutional investors.
About Brookfield Asset Management
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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