Brookfield Asset Management (NYSE:BAM - Free Report) TSE: BAM.A had its price objective hoisted by Wells Fargo & Company from $54.00 to $55.00 in a research note released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the financial services provider's stock.
Other research analysts have also issued reports about the stock. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a "market perform" rating in a research report on Thursday, February 13th. Hsbc Global Res raised Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. upped their price target on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Bank of America raised Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price objective for the company in a research note on Thursday, April 10th. Finally, Scotiabank increased their price objective on Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $59.15.
Get Our Latest Analysis on Brookfield Asset Management
Brookfield Asset Management Price Performance
Shares of BAM traded down $1.31 during trading hours on Friday, hitting $56.25. The stock had a trading volume of 1,917,609 shares, compared to its average volume of 1,401,203. The firm has a 50 day simple moving average of $51.98 and a 200-day simple moving average of $54.37. The firm has a market capitalization of $90.71 billion, a P/E ratio of 42.61, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56. Brookfield Asset Management has a 1-year low of $37.29 and a 1-year high of $62.61.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. Equities analysts predict that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.
Brookfield Asset Management Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.4375 per share. The ex-dividend date is Friday, May 30th. This represents a $1.75 annualized dividend and a dividend yield of 3.11%. Brookfield Asset Management's payout ratio is 124.11%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Brookfield Asset Management in the 4th quarter worth approximately $287,361,000. William Blair Investment Management LLC bought a new position in shares of Brookfield Asset Management during the fourth quarter valued at $204,169,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Brookfield Asset Management by 103.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock valued at $216,507,000 after purchasing an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC bought a new position in shares of Brookfield Asset Management during the fourth quarter valued at $94,122,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Brookfield Asset Management by 975.9% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider's stock valued at $85,463,000 after purchasing an additional 1,601,155 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.
About Brookfield Asset Management
(
Get Free Report)
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.
Further Reading
Before you consider Brookfield Asset Management, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Brookfield Asset Management wasn't on the list.
While Brookfield Asset Management currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
