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

Brookfield Asset Management (NYSE:BAM - Free Report) TSE: BAM.A had its price target lifted by Deutsche Bank Aktiengesellschaft from $56.00 to $59.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the financial services provider's stock.

BAM has been the topic of several other reports. Keefe, Bruyette & Woods lifted their price target on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the company an "underperform" rating in a report on Tuesday, November 5th. Royal Bank of Canada lifted their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. The Goldman Sachs Group lifted 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. Wells Fargo & Company lifted their price target on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the company an "underweight" rating in a report on Tuesday, November 5th. Finally, CIBC lifted their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an "outperformer" rating in a report on Friday, July 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued 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 a consensus target price of $52.54.

Brookfield Asset Management Stock Up 2.5 %

Shares of NYSE:BAM traded up $1.40 during midday trading on Monday, hitting $57.79. The stock had a trading volume of 648,281 shares, compared to its average volume of 1,277,109. The company's 50-day moving average price is $48.39 and its 200-day moving average price is $42.81. The company has a market capitalization of $25.67 billion, a P/E ratio of 51.15, a price-to-earnings-growth ratio of 2.52 and a beta of 1.42. Brookfield Asset Management has a fifty-two week low of $30.82 and a fifty-two week high of $58.00.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the previous year, the company earned $0.35 EPS. Research analysts expect that Brookfield Asset Management will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

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 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management's dividend payout ratio is currently 134.51%.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors have recently modified their holdings of the company. Hara Capital LLC bought a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at $27,000. Massmutual Trust Co. FSB ADV boosted its stake in Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider's stock worth $30,000 after acquiring an additional 385 shares in the last quarter. Continuum Advisory LLC boosted its stake in Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock worth $30,000 after acquiring an additional 285 shares in the last quarter. Richardson Financial Services Inc. boosted its stake 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 in the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in Brookfield Asset Management by 151.3% during the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider's stock worth $40,000 after acquiring an additional 640 shares in the last quarter. 68.41% of the stock is owned by 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.