Citigroup Boosts Brookfield Asset Management (NYSE:BAM) Price Target to $56.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective lifted by Citigroup from $54.00 to $56.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. They currently have a buy rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on BAM. BMO Capital Markets restated a buy rating on shares of Brookfield Asset Management in a research note on Friday, April 5th. TD Securities cut their price target on Total Energy Services from C$11.50 to C$10.00 and set a hold rating for the company in a research note on Friday, May 10th. Six equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and a consensus target price of $54.00.

Shares of NYSE:BAM opened at $48.81 on Tuesday. Brookfield Asset Management has a fifty-two week low of $36.58 and a fifty-two week high of $49.18. The stock has a 50-day simple moving average of $47.55. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18. The stock has a market cap of $48.56 billion, a price-to-earnings ratio of 15.34 and a beta of 1.11.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Thursday, May 9th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $15.21 billion during the quarter, compared to the consensus estimate of $12.35 billion. Brookfield Asset Management had a return on equity of 3.86% and a net margin of 5.63%. During the same period in the previous year, the company posted $1.16 EPS.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were paid a dividend of $0.16 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Thursday, May 30th.

In other Brookfield Asset Management news, Director Brookfield Asset Management In sold 1,900,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $23.75, for a total transaction of $45,125,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Several large investors have recently made changes to their positions in BAM. Lenox Wealth Management Inc. grew its stake in shares of Brookfield Asset Management by 862.1% during the 1st quarter. Lenox Wealth Management Inc. now owns 558 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 500 shares during the period. Zions Bancorporation N.A. bought a new position in shares of Brookfield Asset Management during the 1st quarter valued at approximately $27,000. YorkBridge Wealth Partners LLC lifted its holdings in Brookfield Asset Management by 116.0% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 838 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 450 shares in the last quarter. Carroll Financial Associates Inc. lifted its holdings in Brookfield Asset Management by 86.9% in the 1st quarter. Carroll Financial Associates Inc. now owns 912 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 424 shares in the last quarter. Finally, Contravisory Investment Management Inc. lifted its holdings in Brookfield Asset Management by 213.6% in the 1st quarter. Contravisory Investment Management Inc. now owns 1,411 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 961 shares in the last quarter. Institutional investors own 61.23% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

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Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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