Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target increased by Keefe, Bruyette & Woods from $49.00 to $57.00 in a research report released on Friday, MarketBeat.com reports. They currently have an underperform rating on the financial services provider’s stock.

Several other brokerages also recently commented on BAM. Scotiabank boosted their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Bank of America lifted their target price 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. Royal Bank of Canada upped their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company upped their target price on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the stock an “underweight” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.54.

Brookfield Asset Management Trading Up 0.4 %

NYSE BAM opened at $54.42 on Friday. Brookfield Asset Management has a 12 month low of $37.19 and a 12 month high of $59.58. The stock has a market cap of $24.11 billion, a price-to-earnings ratio of 48.16, a PEG ratio of 2.43 and a beta of 1.41. The company’s 50 day moving average is $55.11 and its two-hundred day moving average is $46.33.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company posted $0.35 earnings per share. Sell-side analysts forecast that Brookfield Asset Management will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

Institutional Trading of Brookfield Asset Management

Institutional investors have recently bought and sold shares of the stock. Hara Capital LLC bought a new position in Brookfield Asset Management during the third quarter valued at $27,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Brookfield Asset Management during the 3rd quarter worth about $27,000. Richardson Financial Services Inc. grew its holdings in Brookfield Asset Management by 368.3% during the 2nd 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 last quarter. Continuum Advisory LLC raised its position in Brookfield Asset Management by 42.2% in the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 329 shares during the period. Finally, Quent Capital LLC lifted its stake in Brookfield Asset Management by 62.1% in the third quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 435 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

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.