Brookfield Asset Management (NYSE:BAM) Price Target Raised to $53.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective upped by BMO Capital Markets from $50.00 to $53.00 in a research note published on Thursday morning,BayStreet.CA reports. They currently have a market perform rating on the financial services provider’s stock.

BAM has been the topic of a number of other research reports. UBS Group initiated coverage on Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating on the stock. The Goldman Sachs Group boosted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods lowered their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Finally, Scotiabank decreased their target price on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Performance

BAM opened at $57.60 on Thursday. Brookfield Asset Management has a 1 year low of $37.29 and a 1 year high of $62.61. The firm has a 50 day moving average price of $56.41 and a 200 day moving average price of $50.89. The company has a market cap of $25.52 billion, a PE ratio of 50.97, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. On average, sell-side 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. Stockholders of record on Friday, February 28th will be paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is 134.51%.

Institutional Trading of Brookfield Asset Management

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Brookfield Asset Management by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after acquiring an additional 168,170 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 10,000 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Brookfield Asset Management by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock valued at $39,516,000 after purchasing an additional 45,670 shares during the last quarter. LGT Capital Partners LTD. raised its holdings in shares of Brookfield Asset Management by 11.5% during the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock worth $25,273,000 after purchasing an additional 55,000 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of Brookfield Asset Management by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after buying an additional 370,383 shares during the last quarter. 68.41% of the stock is 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.