Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target boosted by Deutsche Bank Aktiengesellschaft from $51.00 to $56.00 in a report issued on Tuesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the financial services provider’s stock.

BAM has been the topic of a number of other research reports. Scotiabank lifted their price target on shares of Brookfield Asset Management from $45.50 to $55.50 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. CIBC boosted their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. The Goldman Sachs Group boosted their target price on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, September 30th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their target price on shares of Brookfield Asset Management from $42.00 to $48.00 and gave the company an “underweight” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Trading Up 1.4 %

Shares of BAM stock opened at $55.56 on Tuesday. Brookfield Asset Management has a 1 year low of $30.59 and a 1 year high of $57.36. The firm’s fifty day simple moving average is $47.46 and its 200 day simple moving average is $42.45. The firm has a market capitalization of $24.68 billion, a P/E ratio of 49.17, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Equities research analysts anticipate that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Institutional Trading of Brookfield Asset Management

A number of hedge funds have recently made changes to their positions in BAM. National Bank of Canada FI raised its position in shares of Brookfield Asset Management by 15.5% during the first quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock worth $31,742,000 after acquiring an additional 107,245 shares during the last quarter. Confluence Investment Management LLC increased its holdings in Brookfield Asset Management by 382.6% in the second quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock worth $3,420,000 after purchasing an additional 71,263 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Brookfield Asset Management in the first quarter worth approximately $3,014,000. Intact Investment Management Inc. bought a new stake in shares of Brookfield Asset Management during the second quarter valued at approximately $4,825,000. Finally, Pitcairn Co. bought a new stake in shares of Brookfield Asset Management during the first quarter valued at approximately $525,000. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

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.