Keefe, Bruyette & Woods Increases Brookfield Asset Management (NYSE:BAM) Price Target to $49.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective raised by Keefe, Bruyette & Woods from $44.00 to $49.00 in a report published on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the stock. Bank of America upped their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. cut their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, CIBC increased their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Stock Down 1.9 %

Shares of NYSE:BAM opened at $55.90 on Tuesday. Brookfield Asset Management has a 12-month low of $30.60 and a 12-month high of $57.48. The business has a 50 day moving average of $47.78 and a 200-day moving average of $42.55. The stock has a market cap of $24.83 billion, a PE ratio of 49.47, a P/E/G ratio of 2.63 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 91.12% and a net margin of 49.69%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company posted $0.35 EPS. Equities research analysts expect that Brookfield Asset Management will post 1.43 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.72%. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. TD Asset Management Inc grew its position in shares of Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after acquiring an additional 1,066,015 shares during the period. Mackenzie Financial Corp grew its holdings in Brookfield Asset Management by 19.5% during the 2nd 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 in the last quarter. Vanguard Group Inc. increased its holdings in Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock worth $452,153,000 after acquiring an additional 186,765 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Brookfield Asset Management by 0.3% in the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after acquiring an additional 2,788,611 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

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.