Brookfield Asset Management (NYSE:BAM) Given New $70.00 Price Target at CIBC

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price upped by CIBC from $63.00 to $70.00 in a research report report published on Thursday,BayStreet.CA reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on BAM. Keefe, Bruyette & Woods decreased their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. UBS Group assumed coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 11th. The Goldman Sachs Group lifted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and a consensus target price of $56.13.

Brookfield Asset Management Trading Down 1.0 %

BAM opened at $60.73 on Thursday. The business’s 50 day moving average is $56.22 and its 200-day moving average is $49.76. The stock has a market cap of $26.91 billion, a PE ratio of 53.74, a price-to-earnings-growth ratio of 2.15 and a beta of 1.45. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm earned $0.35 EPS. As a group, analysts forecast that Brookfield Asset Management will post 1.45 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is 134.51%.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hara Capital LLC acquired a new position in Brookfield Asset Management in the third quarter worth approximately $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Brookfield Asset Management during the 3rd quarter worth $27,000. Versant Capital Management Inc increased its stake in shares of Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 771 shares during the last quarter. Continuum Advisory LLC raised its holdings in shares of Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 329 shares in the last quarter. Finally, Quent Capital LLC lifted its stake in shares of Brookfield Asset Management by 62.1% in the 3rd quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 435 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other 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.