Brookfield Asset Management (NYSE:BAM) Price Target Raised to $52.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price boosted by Piper Sandler from $49.00 to $52.00 in a research note published on Monday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

BAM has been the subject of a number of other reports. Royal Bank Of Canada set a $65.00 price target on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Friday, September 18th. UBS Group decreased their price objective on shares of Brookfield Asset Management from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, November 7th. Deutsche Bank lifted their target price on shares of Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Finally, Bank of America dropped their target price 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.30.

Brookfield Asset Management Trading Down 1.7%

Shares of NYSE:BAM opened at $52.58 on Monday. The stock has a 50 day moving average of $47.32 and a 200 day moving average of $47.89. The company has a market cap of $84.01 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 2.21 and a beta of 1.27. The company has a current ratio of 0.61, a quick ratio of 0.75 and a debt-to-equity ratio of 0.21. Brookfield Asset Management has a 12-month low of $42.20 and a 12-month high of $55.97.

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

Brookfield Asset Management Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trust Co. of Vermont purchased a new stake in Brookfield Asset Management during the 2nd quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in shares of Brookfield Asset Management during the third quarter valued at approximately $26,000. Compass Financial Management LLC bought a new stake in shares of Brookfield Asset Management during the second quarter valued at approximately $27,000. Allied Private Wealth LLC purchased a new position in shares of Brookfield Asset Management in the second quarter worth $40,000. Finally, Root Financial Partners LLC purchased a new position in shares of Brookfield Asset Management in the third quarter worth $50,000. 68.41% of the stock is currently owned by institutional investors.

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.