Brookfield Asset Management (NYSE:BAM) Given New $41.00 Price Target at JPMorgan Chase & Co.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective lowered by JPMorgan Chase & Co. from $42.00 to $41.00 in a research report report published on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on BAM. CIBC upped their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an outperformer rating in a research note on Friday, July 19th. TD Securities lifted their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on Brookfield Asset Management from $43.00 to $44.00 and gave the company a buy rating in a report on Thursday. Jefferies Financial Group began coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They issued a hold rating and a $43.00 target price on the stock. Finally, StockNews.com lowered shares of Brookfield Asset Management from a hold rating to a sell rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $42.46.

Brookfield Asset Management Price Performance

Shares of BAM remained flat at $39.63 during trading hours on Thursday. The stock had a trading volume of 846,661 shares, compared to its average volume of 1,338,058. Brookfield Asset Management has a 52-week low of $28.35 and a 52-week high of $44.38. The business’s 50 day moving average price is $39.59 and its two-hundred day moving average price is $40.12. The company has a market cap of $17.59 billion, a P/E ratio of 36.69, a PEG ratio of 1.95 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The business had revenue of $884.00 million for the quarter. Sell-side analysts predict that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds have recently modified their holdings of the business. YHB Investment Advisors Inc. purchased a new position in shares of Brookfield Asset Management during the 1st quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after buying an additional 385 shares during the period. Continuum Advisory LLC raised its holdings in shares of Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in Brookfield Asset Management by 574.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its position in Brookfield Asset Management by 151.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 640 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other 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.