Brookfield Asset Management (NYSE:BAM) Price Target Raised to $60.50

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective hoisted by Scotia from $59.00 to $60.50 in a research report released on Monday morning,BayStreet reports. Scotia currently has a sector outperform rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Bank of America decreased their price objective on shares of Brookfield Asset Management from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Royal Bank Of Canada set a $65.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research note on Friday, September 18th. Weiss Ratings upgraded shares of Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Deutsche Bank boosted their price target on shares of Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. Finally, Piper Sandler raised their price objective on shares of Brookfield Asset Management from $49.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.30.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $52.58 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.75 and a current ratio of 0.61. Brookfield Asset Management has a fifty-two week low of $42.20 and a fifty-two week high of $55.97. The firm has a market cap of $84.01 billion, a P/E ratio of 29.72, a P/E/G ratio of 2.21 and a beta of 1.27. The business’s 50 day moving average price is $47.32 and its 200-day moving average price is $47.89.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, November 6th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Brookfield Asset Management had a return on equity of 30.24% and a net margin of 71.24%. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $1.60 billion. On average, equities research analysts anticipate that Brookfield Asset Management will post 1.77 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, November 30th will be paid a $0.5025 dividend. This represents a $2.01 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 30th. Brookfield Asset Management’s dividend payout ratio is presently 68.84%.

Hedge Funds Weigh In On Brookfield Asset Management

Institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. lifted its holdings in shares of Brookfield Asset Management by 6.3% during the second quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider’s stock valued at $227,422,000 after purchasing an additional 294,966 shares during the last quarter. Nykredit A S bought a new stake in shares of Brookfield Asset Management in the 2nd quarter worth approximately $3,451,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Brookfield Asset Management by 18.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 276,777 shares of the financial services provider’s stock worth $12,339,000 after purchasing an additional 43,748 shares in the last quarter. Liontrust Investment Partners LLP purchased a new stake in shares of Brookfield Asset Management in the 1st quarter worth approximately $11,161,000. Finally, Baird Financial Group Inc. grew its stake in shares of Brookfield Asset Management by 131.4% in the 2nd quarter. Baird Financial Group Inc. now owns 45,809 shares of the financial services provider’s stock worth $2,054,000 after buying an additional 26,011 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager that invests in and manages assets on behalf of institutional and private wealth clients. Its investment strategies span infrastructure, renewable power and transition, private equity, real estate, and credit. The company operates across North America, South America, Europe, the Middle East, and Asia-Pacific. Its businesses invest in and manage assets such as energy and transportation infrastructure, renewable power facilities, real estate, and companies across a range of industries.