Brookfield Asset Management (NYSE:BAM) Price Target Raised to $50.00 at BMO Capital Markets

Brookfield Asset Management (NYSE:BAM - Free Report) TSE: BAM.A had its price target upped by BMO Capital Markets from $40.00 to $50.00 in a research report report published on Tuesday, Benzinga reports. They currently have a market perform rating on the financial services provider's stock.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They set a "hold" rating and a $43.00 price target on the stock. Bank of America lifted their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. The Goldman Sachs Group increased their price target on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a "buy" rating in a report on Monday, September 30th. Finally, TD Securities upped their price objective on Brookfield Asset Management from $50.00 to $61.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $52.29.

Brookfield Asset Management Trading Up 1.4 %

BAM traded up $0.79 on Tuesday, hitting $55.56. 2,071,417 shares of the company's stock traded hands, compared to its average volume of 1,278,967. The company's 50 day simple moving average is $47.46 and its 200-day simple moving average is $42.45. Brookfield Asset Management has a one year low of $30.59 and a one year high of $57.36. The firm has a market cap of $24.68 billion, a price-to-earnings ratio of 49.17, a P/E/G ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same quarter in the previous year, the firm earned $0.35 earnings per share. As a group, equities analysts anticipate that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.74%. Brookfield Asset Management's payout ratio is 134.51%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors have recently modified their holdings of the stock. Hara Capital LLC bought a new stake in shares of Brookfield Asset Management in the third quarter valued at about $27,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Brookfield Asset Management by 98.2% in the 2nd 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 period. Continuum Advisory LLC boosted its stake in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 758 shares in the last quarter. Finally, Richardson Financial Services Inc. increased 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 valued at $37,000 after buying an additional 755 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

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.