Brookfield Asset Management (NYSE:BAM) PT Raised to $52.00 at The Goldman Sachs Group

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price raised by The Goldman Sachs Group from $47.00 to $52.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the company. Wells Fargo & Company assumed coverage on Brookfield Asset Management in a research report on Thursday, September 12th. They issued an underweight rating and a $42.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Brookfield Asset Management in a report on Friday, August 2nd. They set a hold rating and a $43.00 price target for the company. Bank of America raised their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a neutral rating in a report on Thursday, September 12th. BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the company a market perform rating in a research note on Wednesday, September 11th. Finally, CIBC raised their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an outperformer rating in a research note on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of Hold and an average target price of $44.19.

Brookfield Asset Management Stock Down 0.7 %

Shares of NYSE:BAM opened at $47.41 on Monday. The stock has a market cap of $21.04 billion, a PE ratio of 43.89, a PEG ratio of 2.36 and a beta of 1.56. The company’s fifty day moving average is $42.82 and its 200 day moving average is $40.80. Brookfield Asset Management has a 52 week low of $28.35 and a 52 week high of $48.15.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter in the prior year, the firm posted $0.28 EPS. Sell-side analysts anticipate that Brookfield Asset Management will post 1.42 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 3.21%. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Institutional Trading of Brookfield Asset Management

A number of hedge funds have recently modified their holdings of the business. Partners Value Investments L.P. boosted its stake in Brookfield Asset Management by 0.9% during the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after acquiring an additional 280,098 shares in the last quarter. Capital World Investors lifted its holdings in shares of Brookfield Asset Management by 10.0% during the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after purchasing an additional 2,241,372 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after purchasing an additional 1,066,015 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after buying an additional 2,205,040 shares during the last quarter. Finally, FIL Ltd increased its position in Brookfield Asset Management by 66.1% during the 4th quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after buying an additional 4,501,410 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

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.