Brookfield Asset Management (NYSE:BAM) Given New $49.00 Price Target at Keefe, Bruyette & Woods

Brookfield Asset Management (NYSE:BAM - Free Report) TSE: BAM.A had its price target hoisted by Keefe, Bruyette & Woods from $44.00 to $49.00 in a report issued on Tuesday, Benzinga reports. They currently have an underperform rating on the financial services provider's stock.

Other equities analysts have also issued reports about the company. StockNews.com lowered Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Wednesday, August 7th. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a "market perform" rating in a report on Wednesday, September 11th. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a "hold" rating and a $43.00 price objective on the stock. Scotiabank lifted their price objective on Brookfield Asset Management from $45.50 to $55.50 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, CIBC lifted their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an "outperformer" rating in a report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued 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 $51.96.

Brookfield Asset Management Trading Up 1.5 %

BAM traded up $0.80 during midday trading on Tuesday, hitting $55.57. The company's stock had a trading volume of 2,007,912 shares, compared to its average volume of 1,278,671. The firm has a market cap of $24.69 billion, a P/E ratio of 49.67, a PEG ratio of 2.55 and a beta of 1.42. Brookfield Asset Management has a 52-week low of $30.59 and a 52-week high of $57.36. The firm has a 50-day moving average price of $47.19 and a two-hundred day moving average price of $42.32.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates 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 company posted $0.35 EPS. On average, equities analysts expect that Brookfield Asset Management will post 1.43 EPS for the current year.

Brookfield Asset Management Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Hara Capital LLC acquired a new stake in shares of Brookfield Asset Management in the third quarter valued at $27,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider's stock valued at $30,000 after buying an additional 385 shares during the period. Continuum Advisory LLC lifted its holdings in shares of Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock valued at $30,000 after buying an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider's stock valued at $37,000 after buying an additional 758 shares during the period. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock valued at $37,000 after buying an additional 755 shares during the period. Institutional investors and hedge funds 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.