National Bankshares Cuts Brookfield Asset Management (NYSE:BAM) Price Target to $69.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective decreased by National Bankshares from $71.00 to $69.00 in a report published on Monday morning,BayStreet.CA reports. National Bankshares currently has an outperform rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Brookfield Asset Management in a research report on Wednesday, October 8th. BMO Capital Markets lifted their price target on Brookfield Asset Management from $53.00 to $56.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Morgan Stanley set a $62.00 target price on Brookfield Asset Management in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $58.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their price objective on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.14.

Brookfield Asset Management Stock Down 1.2%

BAM stock opened at $54.46 on Monday. The firm has a 50 day moving average of $57.58 and a 200 day moving average of $57.11. The stock has a market capitalization of $89.19 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management has a 52 week low of $41.78 and a 52 week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.29 billion. Sell-side analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $0.4375 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 3.2%. Brookfield Asset Management’s payout ratio is presently 117.45%.

Hedge Funds Weigh In On Brookfield Asset Management

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Brookfield Asset Management by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock valued at $832,833,000 after purchasing an additional 302,852 shares during the period. TD Asset Management Inc raised its position in shares of Brookfield Asset Management by 1.6% in the second quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider’s stock worth $861,101,000 after acquiring an additional 250,068 shares during the period. Mackenzie Financial Corp raised its position in shares of Brookfield Asset Management by 2.5% in the second quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider’s stock worth $631,412,000 after acquiring an additional 282,853 shares during the period. Norges Bank acquired a new position in shares of Brookfield Asset Management in the second quarter worth about $294,730,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Brookfield Asset Management by 25.5% in the second quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock worth $232,402,000 after acquiring an additional 857,994 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Asset Management

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.