Brookfield Asset Management (NYSE:BAM) Earns Outperform Rating from Analysts at Royal Bank Of Canada

Royal Bank Of Canada started coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research note released on Wednesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $72.00 price objective on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on BAM. Jefferies Financial Group cut their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. TD Securities lifted their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Wells Fargo & Company lifted their price target on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the company an “underweight” rating in a report on Friday, May 23rd. Finally, Morgan Stanley lifted their price objective on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.46.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $54.37 on Wednesday. The company has a market cap of $87.67 billion, a price-to-earnings ratio of 38.56, a price-to-earnings-growth ratio of 1.98 and a beta of 1.51. The company has a 50-day moving average price of $54.81 and a 200-day moving average price of $54.28. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. Brookfield Asset Management has a 12 month low of $37.33 and a 12 month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. As a group, equities analysts anticipate that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a yield of 3.22%. Brookfield Asset Management’s payout ratio is 124.11%.

Institutional Investors Weigh In On Brookfield Asset Management

Several large investors have recently modified their holdings of BAM. Principal Securities Inc. raised its stake in shares of Brookfield Asset Management by 5.4% during the 4th quarter. Principal Securities Inc. now owns 8,291 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 427 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Brookfield Asset Management by 2.3% during the fourth quarter. Sanctuary Advisors LLC now owns 20,617 shares of the financial services provider’s stock valued at $1,117,000 after purchasing an additional 462 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Brookfield Asset Management by 170.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 887 shares in the last quarter. Alberta Investment Management Corp raised its position in shares of Brookfield Asset Management by 10.6% in the fourth quarter. Alberta Investment Management Corp now owns 1,259,943 shares of the financial services provider’s stock valued at $68,297,000 after buying an additional 121,067 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Brookfield Asset Management by 6.1% in the fourth quarter. Bank of New York Mellon Corp now owns 663,389 shares of the financial services provider’s stock valued at $35,949,000 after buying an additional 38,331 shares during the last quarter. 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.