Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Brookfield Asset Management (NYSE:BAM - Free Report) TSE: BAM.A had its price target boosted by BMO Capital Markets from $50.00 to $53.00 in a research report report published on Thursday,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 reports. Scotiabank dropped their target price on shares of Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating on the stock in a research note on Thursday. The Goldman Sachs Group boosted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. TD Securities boosted their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, February 10th. CIBC upped their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has an average rating of "Hold" and an average target price of $56.71.

Brookfield Asset Management Stock Up 4.0 %

BAM stock traded up $2.29 during trading on Thursday, reaching $59.86. The stock had a trading volume of 1,928,737 shares, compared to its average volume of 1,329,742. Brookfield Asset Management has a one year low of $37.29 and a one year high of $62.61. The company's 50 day moving average is $56.45 and its two-hundred day moving average is $51.17. The company has a market capitalization of $26.53 billion, a price-to-earnings ratio of 52.98, a P/E/G ratio of 2.18 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.4375 dividend. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.92%. Brookfield Asset Management's dividend payout ratio is presently 134.51%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors have recently made changes to their positions in BAM. Quantinno Capital Management LP grew its holdings in shares of Brookfield Asset Management by 6.1% during the 4th quarter. Quantinno Capital Management LP now owns 62,450 shares of the financial services provider's stock valued at $3,385,000 after purchasing an additional 3,590 shares during the last quarter. Man Group plc grew its holdings in shares of Brookfield Asset Management by 15.4% during the 4th quarter. Man Group plc now owns 33,199 shares of the financial services provider's stock valued at $1,799,000 after purchasing an additional 4,422 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of Brookfield Asset Management during the 4th quarter valued at $1,402,000. Meketa Capital LLC bought a new position in shares of Brookfield Asset Management during the 4th quarter valued at $2,371,000. Finally, Laird Norton Wetherby Wealth Management LLC bought a new position in shares of Brookfield Asset Management during the 4th quarter valued at $211,000. 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.