Brookfield Asset Management (NYSE:BAM) PT Raised to $52.00

Brookfield Asset Management (NYSE:BAM - Free Report) TSE: BAM.A had its price target lifted by The Goldman Sachs Group from $47.00 to $52.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the financial services provider's stock.

A number of other equities research analysts also recently commented on BAM. StockNews.com downgraded Brookfield Asset Management from a hold rating to a sell rating in a report on Wednesday, August 7th. BMO Capital Markets boosted their target price on Brookfield Asset Management from $37.00 to $40.00 and gave the company a market perform rating in a research note on Wednesday, September 11th. TD Securities boosted their price objective on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a buy rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. dropped their price target 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. Finally, Scotiabank decreased their price objective on Brookfield Asset Management from $46.00 to $45.50 and set a sector outperform rating for the company in a report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $44.19.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded down $0.23 during trading hours on Monday, hitting $46.99. The stock had a trading volume of 503,023 shares, compared to its average volume of 1,294,407. Brookfield Asset Management has a 1-year low of $28.35 and a 1-year high of $48.03. The firm has a market capitalization of $20.85 billion, a price-to-earnings ratio of 43.72, a PEG ratio of 2.36 and a beta of 1.56. The stock's fifty day simple moving average is $42.36 and its 200 day simple moving average is $40.62.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). The company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter last year, the firm posted $0.28 earnings per share. As a group, research analysts anticipate that Brookfield Asset Management will post 1.42 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.23%. Brookfield Asset Management's dividend payout ratio is 140.74%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds have recently modified their holdings of BAM. National Bank of Canada FI grew its position in shares of Brookfield Asset Management by 15.5% in the 1st quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider's stock worth $31,742,000 after buying an additional 107,245 shares during the period. Partners Value Investments L.P. boosted its position in shares of Brookfield Asset Management by 0.9% in the 4th quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider's stock worth $1,237,556,000 after purchasing an additional 280,098 shares in the last quarter. Confluence Investment Management LLC boosted its position in shares of Brookfield Asset Management by 382.6% in the 2nd quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider's stock worth $3,420,000 after purchasing an additional 71,263 shares in the last quarter. Prudential PLC raised its stake in Brookfield Asset Management by 20.0% during the fourth quarter. Prudential PLC now owns 223,536 shares of the financial services provider's stock valued at $8,979,000 after buying an additional 37,212 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in Brookfield Asset Management in the first quarter worth $3,014,000. Hedge funds and other institutional investors own 68.41% of the company's stock.

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.