Brookfield Asset Management (NYSE:BAM) Price Target Lowered to $50.00 at Morgan Stanley

Brookfield Asset Management (NYSE:BAM - Free Report) TSE: BAM.A had its target price reduced by Morgan Stanley from $62.00 to $50.00 in a research note published on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider's stock.

Several other analysts also recently commented on BAM. Bank of America upgraded shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a report on Thursday, April 10th. Scotiabank cut their price target on Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating on the stock in a report on Monday, April 7th. HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. TD Securities lifted their price target 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. Finally, Wells Fargo & Company reduced their price objective on shares of Brookfield Asset Management from $50.00 to $48.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.15.

Brookfield Asset Management Stock Up 1.2 %

BAM stock traded up $0.57 during midday trading on Monday, reaching $48.56. The company's stock had a trading volume of 1,224,243 shares, compared to its average volume of 1,433,174. The business's 50-day simple moving average is $51.00 and its 200-day simple moving average is $53.58. The stock has a market cap of $79.51 billion, a PE ratio of 36.79, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. Brookfield Asset Management has a 52 week low of $37.29 and a 52 week high of $62.61.

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, beating analysts' consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, equities analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a $0.4375 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.60%. This is an increase from Brookfield Asset Management's previous quarterly dividend of $0.38. Brookfield Asset Management's payout ratio is currently 132.58%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in BAM. Principal Financial Group Inc. lifted its position in shares of Brookfield Asset Management by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider's stock valued at $419,400,000 after acquiring an additional 24,409 shares during the period. MML Investors Services LLC lifted its holdings in shares of Brookfield Asset Management by 7.3% in the third quarter. MML Investors Services LLC now owns 17,511 shares of the financial services provider's stock worth $828,000 after acquiring an additional 1,193 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Brookfield Asset Management during the third quarter worth $1,634,000. Geode Capital Management LLC lifted its stake in shares of Brookfield Asset Management by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider's stock valued at $77,293,000 after acquiring an additional 168,170 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new stake in shares of Brookfield Asset Management during the 3rd quarter valued at $176,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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.