Brookfield Asset Management (NYSE:BAM) Given New $50.00 Price Target at Wells Fargo & Company

Brookfield Asset Management (NYSE:BAM - Free Report) TSE: BAM.A had its target price reduced by Wells Fargo & Company from $54.00 to $50.00 in a research report released on Thursday morning,Benzinga reports. They currently have an underweight rating on the financial services provider's stock.

A number of other equities research analysts also recently commented on the company. TD Securities lifted their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, February 10th. CIBC increased their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods lowered their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating for the company in a report on Monday, January 13th. Scotiabank cut their price target on shares of Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Finally, Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.38.

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Brookfield Asset Management Trading Up 3.8 %

Shares of NYSE BAM traded up $1.90 during trading on Thursday, reaching $51.43. The company had a trading volume of 1,186,744 shares, compared to its average volume of 1,308,787. The stock has a market capitalization of $22.79 billion, a PE ratio of 38.96, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $62.61. The stock has a 50-day moving average price of $55.18 and a two-hundred day moving average price of $53.36.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping 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%. On average, sell-side analysts predict that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.4375 per share. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management's dividend payout ratio is currently 132.58%.

Institutional Trading of Brookfield Asset Management

Several institutional investors have recently added to or reduced their stakes in BAM. Wealth Enhancement Advisory Services LLC grew its position in shares of Brookfield Asset Management by 7.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 42,148 shares of the financial services provider's stock valued at $2,284,000 after buying an additional 2,914 shares during the last quarter. Castle Rock Wealth Management LLC grew its holdings in shares of Brookfield Asset Management by 5.7% during the fourth quarter. Castle Rock Wealth Management LLC now owns 31,786 shares of the financial services provider's stock valued at $1,902,000 after purchasing an additional 1,709 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Brookfield Asset Management in the 4th quarter worth approximately $412,000. Ascent Group LLC boosted its position in Brookfield Asset Management by 6.5% during the 4th quarter. Ascent Group LLC now owns 10,818 shares of the financial services provider's stock valued at $586,000 after purchasing an additional 662 shares during the period. Finally, Blue Sky Capital Consultants Group Inc. bought a new position in Brookfield Asset Management during the 4th quarter worth $2,363,000. 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.