Brookfield Asset Management Inc (NYSE:BAM) Given Average Recommendation of “Buy” by Brokerages

Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) has been given an average recommendation of “Buy” by the six analysts that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $56.50.

A number of brokerages recently commented on BAM. TD Securities boosted their price objective on shares of Brookfield Asset Management from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup boosted their price objective on shares of Brookfield Asset Management from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from $55.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada boosted their price objective on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, August 12th.

In other news, Director Brookfield Asset Management In sold 1,900,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $23.75, for a total transaction of $45,125,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Several institutional investors and hedge funds have recently made changes to their positions in BAM. Lenox Wealth Management Inc. grew its holdings in shares of Brookfield Asset Management by 862.1% during the first quarter. Lenox Wealth Management Inc. now owns 558 shares of the financial services provider’s stock valued at $26,000 after buying an additional 500 shares during the last quarter. Zions Bancorporation N.A. purchased a new stake in Brookfield Asset Management in the first quarter valued at $27,000. HM Payson & Co. purchased a new stake in Brookfield Asset Management in the second quarter valued at $32,000. Carroll Financial Associates Inc. boosted its holdings in Brookfield Asset Management by 86.9% in the first quarter. Carroll Financial Associates Inc. now owns 912 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 424 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in Brookfield Asset Management by 233.0% in the second quarter. AdvisorNet Financial Inc now owns 979 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 685 shares during the last quarter. 61.33% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Brookfield Asset Management stock traded down $1.18 on Friday, hitting $50.59. 1,351,597 shares of the company traded hands, compared to its average volume of 1,691,582. The stock’s 50 day moving average price is $49.49 and its 200-day moving average price is $47.32. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.29. Brookfield Asset Management has a 52 week low of $36.58 and a 52 week high of $52.09. The company has a market cap of $51.55 billion, a PE ratio of 17.73 and a beta of 1.12.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.25. Brookfield Asset Management had a net margin of 4.86% and a return on equity of 3.31%. The firm had revenue of $16.92 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was up 27.5% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Thursday, August 29th.

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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