BMO Capital Markets restated their outperform rating on shares of Brookfield Asset Management Inc. (NYSE:BAM) in a research report report published on Monday morning. They currently have a $42.00 price objective on the stock, up from their prior price objective of $40.00.
BAM has been the topic of a number of other reports. Credit Suisse Group AG set a $36.00 price target on Brookfield Asset Management and gave the company a hold rating in a report on Monday, August 22nd. TheStreet downgraded Brookfield Asset Management from a buy rating to a hold rating in a report on Monday, September 19th. RBC Capital Markets raised Brookfield Asset Management from an outperform rating to a top pick rating and set a $41.00 price objective for the company in a research report on Wednesday, September 21st. They noted that the move was a valuation call. Royal Bank Of Canada raised Brookfield Asset Management from an outperform rating to a top pick rating and set a $41.00 price objective for the company in a research report on Thursday, September 22nd. Finally, TD Securities reissued a buy rating and issued a $46.00 price objective (up previously from $44.00) on shares of Brookfield Asset Management in a research report on Tuesday, August 16th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $40.07.
Shares of Brookfield Asset Management (NYSE:BAM) opened at 35.30 on Monday. Brookfield Asset Management has a 12-month low of $25.72 and a 12-month high of $35.73. The firm has a 50-day moving average price of $34.13 and a 200 day moving average price of $33.88. The company has a market capitalization of $33.85 billion, a P/E ratio of 27.30 and a beta of 0.97.
Brookfield Asset Management (NYSE:BAM) last announced its quarterly earnings results on Friday, August 12th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.39. Brookfield Asset Management had a return on equity of 2.54% and a net margin of 6.47%. The business had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the business posted $0.65 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts predict that Brookfield Asset Management will post $0.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.47%. Brookfield Asset Management’s payout ratio is currently 39.39%.
Several institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in Brookfield Asset Management during the second quarter worth $1,134,262,000. FMR LLC raised its position in Brookfield Asset Management by 2.4% in the second quarter. FMR LLC now owns 24,845,103 shares of the company’s stock worth $821,919,000 after buying an additional 575,182 shares during the last quarter. Principal Financial Group Inc. raised its position in Brookfield Asset Management by 3.5% in the second quarter. Principal Financial Group Inc. now owns 22,670,314 shares of the company’s stock worth $749,703,000 after buying an additional 764,884 shares during the last quarter. TD Asset Management Inc. raised its position in Brookfield Asset Management by 1.0% in the second quarter. TD Asset Management Inc. now owns 20,367,353 shares of the company’s stock worth $670,286,000 after buying an additional 202,384 shares during the last quarter. Finally, First Manhattan Co. raised its position in Brookfield Asset Management by 0.7% in the second quarter. First Manhattan Co. now owns 17,662,333 shares of the company’s stock worth $584,093,000 after buying an additional 124,326 shares during the last quarter. Institutional investors and hedge funds own 53.31% of the company’s stock.
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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