Brookfield Asset Management (NYSE:BAM) Given New $59.00 Price Target at Scotiabank

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective boosted by Scotiabank from $58.00 to $59.00 in a research note published on Wednesday, MarketBeat reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on BAM. Morgan Stanley dropped their price objective on Brookfield Asset Management from $62.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. CIBC upped their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company increased their target price on Brookfield Asset Management from $48.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods dropped their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. Finally, BMO Capital Markets increased their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $58.77.

Brookfield Asset Management Trading Down 0.9 %

Shares of BAM opened at $56.35 on Wednesday. The stock has a market capitalization of $92.26 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 1.92 and a beta of 1.56. The firm has a fifty day simple moving average of $49.67 and a 200 day simple moving average of $54.03. Brookfield Asset Management has a 12 month low of $37.29 and a 12 month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, research analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 124.11%.

Institutional Investors Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tandem Capital Management Corp ADV boosted its stake in shares of Brookfield Asset Management by 0.4% in the 4th quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock worth $2,119,000 after buying an additional 175 shares during the last quarter. Kirr Marbach & Co. LLC IN lifted its holdings in Brookfield Asset Management by 0.6% during the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider’s stock worth $1,715,000 after acquiring an additional 203 shares during the period. RE Dickinson Investment Advisors LLC boosted its position in Brookfield Asset Management by 3.2% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 215 shares during the last quarter. Focus Financial Network Inc. grew its stake in Brookfield Asset Management by 5.2% in the 1st quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 218 shares during the period. Finally, Gold Investment Management Ltd. increased its position in shares of Brookfield Asset Management by 0.5% during the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock valued at $2,271,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

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.