BMO Capital Markets Raises Brookfield Asset Management (NYSE:BAM) Price Target to $40.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target increased by BMO Capital Markets from $37.00 to $40.00 in a research report report published on Wednesday morning, Marketbeat.com reports. BMO Capital Markets currently has a market perform rating on the financial services provider’s stock.

BAM has been the topic of several other reports. CIBC lifted their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an outperformer rating in a research report on Friday, July 19th. TD Securities increased their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a buy rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Scotiabank lowered their price target on shares of Brookfield Asset Management from $46.00 to $45.50 and set a sector outperform rating on the stock in a research note on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They issued a hold rating and a $43.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $43.81.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $44.85 on Wednesday. The company has a market capitalization of $19.91 billion, a price-to-earnings ratio of 41.53, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. Brookfield Asset Management has a one year low of $28.35 and a one year high of $45.24. The stock has a 50-day simple moving average of $41.11 and a 200 day simple moving average of $40.29.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm posted $0.28 EPS. On average, equities research analysts forecast that Brookfield Asset Management will post 1.42 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 140.74%.

Institutional Trading of Brookfield Asset Management

Several institutional investors and hedge funds have recently made changes to their positions in BAM. YHB Investment Advisors Inc. acquired a new stake in Brookfield Asset Management during the first quarter valued at $26,000. Massmutual Trust Co. FSB ADV grew its stake in Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 385 shares during the last quarter. Continuum Advisory LLC boosted its stake in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Brookfield Asset Management by 574.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares during the period. Finally, Richardson Financial Services Inc. raised its stake in shares of Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 755 shares during the period. 68.41% of the stock is currently owned by institutional investors.

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.