The Goldman Sachs Group Raises Brookfield Asset Management (NYSE:BAM) Price Target to $52.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target lifted by The Goldman Sachs Group from $47.00 to $52.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research firms have also issued reports on BAM. Scotiabank reduced their target price on shares of Brookfield Asset Management from $46.00 to $45.50 and set a sector outperform rating on the stock in a report on Thursday, August 8th. CIBC increased their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the company an outperformer rating in a research note on Friday, July 19th. Bank of America boosted their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a neutral rating in a research note on Thursday, September 12th. TD Securities increased their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the company a buy rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a neutral rating for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $44.19.

Brookfield Asset Management Stock Up 0.3 %

BAM opened at $47.72 on Monday. The firm has a market cap of $21.18 billion, a P/E ratio of 44.19, a P/E/G ratio of 2.36 and a beta of 1.56. Brookfield Asset Management has a 52 week low of $28.35 and a 52 week high of $48.15. The business has a fifty day simple moving average of $42.70 and a 200-day simple moving average of $40.76.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its 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). The firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same period in the prior year, the firm earned $0.28 earnings per share. Sell-side analysts expect that Brookfield Asset Management will post 1.42 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.38 per share. The ex-dividend date was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.19%. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently bought and sold shares of the stock. FIL Ltd increased its position in shares of Brookfield Asset Management by 66.1% during the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock worth $454,424,000 after purchasing an additional 4,501,410 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Brookfield Asset Management by 68.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after buying an additional 2,788,611 shares during the period. Capital World Investors increased its position in Brookfield Asset Management by 10.0% during the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock worth $986,656,000 after buying an additional 2,241,372 shares during the period. Mackenzie Financial Corp lifted its stake in Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after buying an additional 2,205,040 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at approximately $42,160,000. 68.41% of the stock is 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.