Scotiabank 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 boosted by Scotiabank from $45.50 to $55.50 in a research note released on Wednesday, Marketbeat.com reports. Scotiabank currently has an outperform rating on the financial services provider's stock.

BAM has been the topic of several other research reports. 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. Wells Fargo & Company boosted their price target on Brookfield Asset Management from $42.00 to $48.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 9th. StockNews.com lowered Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Finally, Bank of America boosted their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $48.32.

Brookfield Asset Management Trading Up 0.5 %

Shares of NYSE BAM traded up $0.26 during mid-day trading on Wednesday, reaching $53.80. 1,238,590 shares of the company's stock were exchanged, compared to its average volume of 1,264,893. The business has a fifty day simple moving average of $46.43 and a 200 day simple moving average of $41.98. Brookfield Asset Management has a twelve month low of $28.35 and a twelve month high of $54.20. The firm has a market capitalization of $23.87 billion, a price-to-earnings ratio of 49.81, a PEG ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 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 posted $0.28 EPS. Equities research analysts predict that Brookfield Asset Management will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.38 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a yield of 2.83%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 140.74%.

Institutional Trading of Brookfield Asset Management

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Asset Management by 68.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider's stock valued at $260,770,000 after acquiring an additional 2,788,611 shares during the period. Mackenzie Financial Corp lifted its position in shares of Brookfield Asset Management by 19.5% during the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider's stock valued at $514,867,000 after acquiring an additional 2,205,040 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Brookfield Asset Management during the 2nd quarter worth $42,160,000. TD Asset Management Inc lifted its position in shares of Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider's stock worth $515,823,000 after buying an additional 1,066,015 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Brookfield Asset Management by 49.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,779,015 shares of the financial services provider's stock worth $74,802,000 after buying an additional 591,130 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.