TD Securities reaffirmed their buy rating on shares of Brookfield Asset Management Inc. (NYSE:BAM) in a research note released on Sunday morning. They currently have a $46.00 price objective on the stock.
Several other equities research analysts have also recently commented on BAM. Zacks Investment Research cut Brookfield Asset Management from a buy rating to a hold rating in a research note on Tuesday, July 12th. Vetr raised Brookfield Asset Management from a buy rating to a strong-buy rating and set a $38.94 price target for the company in a research note on Monday, June 13th. BMO Capital Markets reissued an outperform rating and issued a $42.00 price target (up previously from $40.00) on shares of Brookfield Asset Management in a research note on Monday, September 26th. Royal Bank Of Canada raised Brookfield Asset Management from an outperform rating to a top pick rating and set a $41.00 price target for the company in a research note on Thursday, September 22nd. Finally, Credit Suisse Group AG set a $36.00 price target on Brookfield Asset Management and gave the company a hold rating in a research note on Monday, August 22nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $40.07.
Shares of Brookfield Asset Management (NYSE:BAM) traded down 0.34% during mid-day trading on Friday, hitting $35.18. 1,102,285 shares of the company were exchanged. The stock has a market cap of $33.74 billion, a PE ratio of 27.21 and a beta of 0.97. Brookfield Asset Management has a 12-month low of $25.72 and a 12-month high of $35.73. The stock’s 50-day moving average price is $34.13 and its 200 day moving average price is $33.90.
Brookfield Asset Management (NYSE:BAM) last released its earnings results on Friday, August 12th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities analysts anticipate that Brookfield Asset Management will post $0.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.13 per share. The ex-dividend date was Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.48%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 39.39%.
Several hedge funds and other institutional investors have recently modified their holdings of BAM. Bank of Montreal Can acquired a new position in shares of Brookfield Asset Management during the second quarter worth approximately $1,134,262,000. Candriam Luxembourg S.C.A. raised its position in shares of Brookfield Asset Management by 603.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 373,725 shares of the company’s stock worth $12,300,000 after buying an additional 320,579 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of Brookfield Asset Management by 23.5% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,472,250 shares of the company’s stock worth $105,664,000 after buying an additional 469,773 shares during the period. Allen Investment Management LLC raised its position in shares of Brookfield Asset Management by 13.2% in the first quarter. Allen Investment Management LLC now owns 25,458 shares of the company’s stock worth $886,000 after buying an additional 2,969 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Brookfield Asset Management by 4,241.7% in the first quarter. Acadian Asset Management LLC now owns 9,986 shares of the company’s stock worth $347,000 after buying an additional 9,756 shares during the period. Institutional investors 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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