TD Securities Forecasts Strong Price Appreciation for Brookfield Asset Management (NYSE:BAM) Stock

Brookfield Asset Management (NYSE:BAM - Free Report) TSE: BAM.A had its price target raised by TD Securities from $61.00 to $64.00 in a research report report published on Tuesday, BayStreet.CA reports. The firm currently has a buy rating on the financial services provider's stock.

A number of other analysts have also recently commented on the stock. 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. Scotiabank raised their price target on Brookfield Asset Management from $45.50 to $55.50 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the company an "underperform" rating in a research report on Tuesday. BMO Capital Markets increased their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a "market perform" rating in a report on Tuesday. 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 assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $52.29.

Brookfield Asset Management Stock Performance

NYSE:BAM traded up $0.79 on Tuesday, hitting $55.56. The stock had a trading volume of 2,071,417 shares, compared to its average volume of 1,278,967. Brookfield Asset Management has a 1 year low of $30.59 and a 1 year high of $57.36. The firm's fifty day simple moving average is $47.46 and its two-hundred day simple moving average is $42.45. The stock has a market cap of $24.68 billion, a P/E ratio of 49.17, a price-to-earnings-growth 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 analysts' consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same period in the previous year, the business posted $0.35 EPS. Equities research analysts predict that Brookfield Asset Management will post 1.43 EPS for the current year.

Brookfield Asset Management Dividend Announcement

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

Institutional Investors Weigh In On Brookfield Asset Management

Hedge funds have recently made changes to their positions in the company. Hara Capital LLC purchased a new position in Brookfield Asset Management during the third quarter valued at $27,000. Massmutual Trust Co. FSB ADV increased its position in shares of 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 valued at $30,000 after acquiring an additional 385 shares in the last quarter. Continuum Advisory LLC raised its holdings in Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock worth $30,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 758 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its stake in Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 755 shares during the last quarter. 68.41% of the stock is currently 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.