Brookfield Asset Management (NYSE:BAM) Coverage Initiated at UBS Group

UBS Group initiated coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research report released on Monday, Marketbeat Ratings reports. The firm issued a buy rating on the financial services provider’s stock.

BAM has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods boosted their price target on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada raised their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. BMO Capital Markets lifted their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company raised their price target on Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and an average price target of $53.88.

Brookfield Asset Management Trading Down 7.0 %

Brookfield Asset Management stock opened at $53.80 on Monday. The firm’s 50 day simple moving average is $54.87 and its 200 day simple moving average is $46.17. Brookfield Asset Management has a 1-year low of $37.19 and a 1-year high of $59.58. The firm has a market capitalization of $22.58 billion, a PE ratio of 47.61, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter last year, the business posted $0.35 earnings per share. Research analysts forecast that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. CWM LLC grew its holdings in Brookfield Asset Management by 12.2% in the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 267 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Brookfield Asset Management by 330.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 37,925 shares of the financial services provider’s stock worth $1,443,000 after purchasing an additional 29,111 shares during the period. Continuum Advisory LLC grew its stake in shares of Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares during the last quarter. My Legacy Advisors LLC purchased a new position in Brookfield Asset Management during the 2nd quarter valued at about $207,000. Finally, Sather Financial Group Inc raised its position in Brookfield Asset Management by 10.8% during the 2nd quarter. Sather Financial Group Inc now owns 489,832 shares of the financial services provider’s stock valued at $18,638,000 after purchasing an additional 47,913 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

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.