Brookfield Asset Management (NYSE:BAM) Price Target Raised to $49.00 at Keefe, Bruyette & Woods

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective boosted by Keefe, Bruyette & Woods from $44.00 to $49.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an underperform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on BAM. Jefferies Financial Group began coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 price objective for the company. Scotiabank upped their price objective on 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 increased their price target on 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 increased their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company increased their price target on Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $56.39 on Tuesday. The stock has a market capitalization of $25.05 billion, a P/E ratio of 49.90, a price-to-earnings-growth ratio of 2.63 and a beta of 1.42. Brookfield Asset Management has a 1-year low of $30.68 and a 1-year high of $57.48. The business has a fifty day moving average price of $48.39 and a 200 day moving average price of $42.76.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 91.12% and a net margin of 49.69%. During the same period in the prior year, the business posted $0.35 EPS. As a group, equities research analysts anticipate that Brookfield Asset Management will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Hara Capital LLC purchased a new position in shares of Brookfield Asset Management in the third quarter worth about $27,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 385 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 758 shares during the last quarter. Finally, Richardson Financial Services Inc. grew its holdings in Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 755 shares during the period. 68.41% of the stock is currently owned by hedge funds and other 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.