BMO Capital Markets Initiates Coverage on Brookfield Asset Management (BAM)

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BMO Capital Markets began coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research report sent to investors on Thursday, September 20th, Marketbeat reports. The firm issued an outperform rating and a $54.00 price target on the financial services provider’s stock.

BAM has been the topic of a number of other research reports. Scotiabank restated a buy rating and issued a $50.50 price target on shares of Brookfield Asset Management in a report on Tuesday, August 7th. Royal Bank of Canada upped their price target on Brookfield Asset Management from $46.00 to $47.00 and gave the stock an outperform rating in a report on Friday, August 10th. Five investment analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and an average target price of $51.20.

NYSE BAM traded up $0.32 on Thursday, hitting $41.82. 1,307,564 shares of the company’s stock were exchanged, compared to its average volume of 1,008,580. The stock has a market capitalization of $44.18 billion, a price-to-earnings ratio of 16.62 and a beta of 1.02. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 1.05. Brookfield Asset Management has a fifty-two week low of $37.22 and a fifty-two week high of $45.04.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Thursday, August 9th. The financial services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.58. The business had revenue of $13.28 billion for the quarter. Brookfield Asset Management had a return on equity of 3.74% and a net margin of 5.49%. The business’s revenue was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS.

The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, August 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Thursday, August 30th.

Large investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC lifted its stake in shares of Brookfield Asset Management by 121.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,555 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 1,402 shares during the period. Squar Milner Financial Services LLC purchased a new position in shares of Brookfield Asset Management during the 2nd quarter worth $175,000. FineMark National Bank & Trust purchased a new position in shares of Brookfield Asset Management during the 2nd quarter worth $200,000. Timber Hill LLC purchased a new position in shares of Brookfield Asset Management during the 2nd quarter worth $201,000. Finally, Signature Financial Management Inc. purchased a new position in shares of Brookfield Asset Management during the 2nd quarter worth $204,000. Hedge funds and other institutional investors own 60.39% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.

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