TD Securities reissued their buy rating on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research report sent to investors on Monday, AnalystRatings.com reports.
Several other analysts have also recently issued reports on BAM. Canaccord Genuity reissued a buy rating and set a $42.50 price target on shares of Brookfield Asset Management in a research report on Friday, May 15th. Royal Bank of Canada increased their price target on shares of Brookfield Asset Management from $39.00 to $40.00 and gave the stock an outperform rating in a research report on Monday. ValuEngine raised shares of Brookfield Asset Management from a sell rating to a hold rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. started coverage on shares of Brookfield Asset Management in a research report on Monday, June 8th. They set an overweight rating on the stock. Finally, CIBC reduced their price target on shares of Brookfield Asset Management from $48.00 to $44.00 and set an outperformer rating on the stock in a research report on Friday, May 15th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $41.54.
NYSE BAM opened at $33.54 on Monday. The firm’s 50-day moving average is $33.30 and its two-hundred day moving average is $40.43. Brookfield Asset Management has a 12 month low of $21.57 and a 12 month high of $45.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.03 and a quick ratio of 0.82. The stock has a market capitalization of $53.16 billion, a P/E ratio of 71.87 and a beta of 1.11.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Thursday, August 13th. The financial services provider reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.86). Brookfield Asset Management had a net margin of 1.30% and a return on equity of 0.78%. During the same quarter last year, the firm posted $0.24 earnings per share. As a group, analysts anticipate that Brookfield Asset Management will post 1.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, August 31st will be issued a $0.12 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.48 annualized dividend and a yield of 1.43%. Brookfield Asset Management’s dividend payout ratio (DPR) is 27.75%.
A number of large investors have recently modified their holdings of BAM. Toth Financial Advisory Corp purchased a new position in Brookfield Asset Management in the second quarter valued at approximately $26,000. Ameritas Investment Company LLC purchased a new position in Brookfield Asset Management in the first quarter valued at approximately $30,000. City Holding Co. increased its stake in Brookfield Asset Management by 49.7% in the second quarter. City Holding Co. now owns 934 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 310 shares during the last quarter. Balentine LLC purchased a new position in Brookfield Asset Management in the first quarter valued at approximately $32,000. Finally, Global Wealth Management Investment Advisory Inc. increased its stake in Brookfield Asset Management by 84.9% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 795 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 365 shares during the last quarter. 39.77% of the stock is currently owned by hedge funds and other institutional investors.
About Brookfield Asset Management
Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.
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