TD Securities Forecasts Strong Price Appreciation for Brookfield Asset Management (NYSE:BAM) Stock

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective upped by TD Securities from $50.00 to $61.00 in a research report released on Tuesday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. CIBC increased their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a report on Friday, July 19th. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Bank of America boosted their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.32.

Brookfield Asset Management Trading Up 0.3 %

NYSE BAM opened at $53.19 on Tuesday. Brookfield Asset Management has a 1 year low of $29.83 and a 1 year high of $54.20. The stock’s 50-day moving average price is $46.92 and its two-hundred day moving average price is $42.16. The company has a market cap of $23.63 billion, a PE ratio of 48.35, a PEG ratio of 2.58 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $1.16 billion. During the same period in the previous year, the firm posted $0.28 earnings per share. Research analysts forecast that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 138.18%.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hara Capital LLC bought a new position in shares of Brookfield Asset Management during the third quarter valued at $27,000. Massmutual Trust Co. FSB ADV grew its stake in Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after buying an additional 385 shares during the last quarter. Continuum Advisory LLC increased its holdings in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after buying an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after buying an additional 758 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 755 shares in 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.