Brookfield Asset Management (NYSE:BAM) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The brokerage issued an underweight rating and a $42.00 target price on the financial services provider’s stock.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group started coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They issued a hold rating and a $43.00 price target for the company. Scotiabank reduced their target price on shares of Brookfield Asset Management from $46.00 to $45.50 and set a sector outperform rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the stock a buy rating in a research note on Thursday, August 8th. StockNews.com cut Brookfield Asset Management from a hold rating to a sell rating in a research report on Wednesday, August 7th. Finally, TD Securities increased their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Brookfield Asset Management currently has an average rating of Hold and a consensus target price of $43.81.

Brookfield Asset Management Stock Performance

BAM opened at $44.85 on Thursday. Brookfield Asset Management has a one year low of $28.35 and a one year high of $45.24. The stock has a market capitalization of $19.91 billion, a P/E ratio of 41.53, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. The business’s 50-day simple moving average is $41.11 and its 200-day simple moving average is $40.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The firm had revenue of $916.00 million for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm earned $0.28 EPS. On average, equities research analysts forecast that Brookfield Asset Management will post 1.42 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

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 issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 140.74%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of large investors have recently made changes to their positions in the stock. Beutel Goodman & Co Ltd. grew its position in Brookfield Asset Management by 114.5% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock worth $279,387,000 after buying an additional 3,695,774 shares during the period. National Bank of Canada FI lifted its position in shares of Brookfield Asset Management by 15.5% during the 1st quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock valued at $31,742,000 after acquiring an additional 107,245 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Brookfield Asset Management by 42.4% during the 4th quarter. Hsbc Holdings PLC now owns 628,945 shares of the financial services provider’s stock worth $25,265,000 after acquiring an additional 187,250 shares in the last quarter. Wells Fargo & Company MN increased its stake in Brookfield Asset Management by 17.1% in the 4th quarter. Wells Fargo & Company MN now owns 692,801 shares of the financial services provider’s stock valued at $27,842,000 after purchasing an additional 100,997 shares in the last quarter. Finally, Partners Value Investments L.P. raised its holdings in Brookfield Asset Management by 0.9% during the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after purchasing an additional 280,098 shares during 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.