Brookfield Asset Management Inc. (NYSE: BAM) Receives Consensus “Buy” Recommendation from Analysts
Shares of Brookfield Asset Management Inc. (NYSE:BAM – Get Rating) (TSE:BAM.A) received an average rating of “Buy” from the twelve analysts who currently cover the company, MarketBeat.com reports. One analyst rated the stock with a sell rating, three gave the company a hold rating, six gave the company a buy rating and one gave the company a strong buy rating. The 1-year average price target among brokers who have covered the stock over the past year is $66.39.
Several stock analysts have published reports on the company. Zacks Investment Research upgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a Wednesday, April 13 research report. TD Securities raised its target price on Brookfield Asset Management from $75.00 to $77.00 and gave the company a “buy on stock” rating in a Monday, Feb. 7 research note. Credit Suisse Group raised its target price on Brookfield Asset Management from $63.00 to $68.00 and gave the company a “neutral” rating in a Friday, Feb. 11 research note. Citigroup raised its target price on Brookfield Asset Management from $61.00 to $65.50 in a Friday, Feb. 11 research note. Finally, Deutsche Bank Aktiengesellschaft cut its price target on Brookfield Asset Management from $64.00 to $62.00 and placed a “hold” rating on the stock in a Thursday, April 7 research note.
In related news, major shareholder Brookfield Asset Management In sold 5,925 shares in a trade on Tuesday, April 12. The stock was sold at an average price of $32.13, for a total value of $190,370.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this link.
A number of large investors have recently changed their holdings in the company. Jag Capital Management LLC increased its position in Brookfield Asset Management by 14.5% in Q3. Jag Capital Management LLC now owns 26,518 shares of the financial services provider valued at $1,419,000 after buying 3,359 additional shares in the last quarter. AXS Investments LLC purchased a new stake in shares of Brookfield Asset Management during the third quarter worth approximately $418,000. National Bank Huntington increased its stake in shares of Brookfield Asset Management by 134,100.0% in the third quarter. Huntington National Bank now owns 1,342 shares of the financial services provider worth $72,000 after acquiring 1,341 additional shares in the last quarter. M&T Bank Corp increased its holdings in Brookfield Asset Management by 5.6% in the third quarter. M&T Bank Corp now owns 4,990 shares of the financial services provider valued at $267,000 after buying an additional 266 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Brookfield Asset Management during Q3 valued at approximately $502,000. 60.23% of the shares are held by institutional investors.
Brookfield Asset Management’s stock opened at $53.78 on Tuesday. Brookfield Asset Management has a fifty-two week low of $43.96 and a fifty-two week high of $62.47. The company has a market capitalization of $88.26 billion, a P/E ratio of 22.50 and a beta of 1.30. The stock has a 50-day simple moving average of $55.27 and a 200-day simple moving average of $57.02.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last reported results on Thursday, February 10. The financial services provider reported earnings per share of $0.66 for the quarter. Brookfield Asset Management posted a return on equity of 3.21% and a net margin of 5.24%. The company had revenue of $21.79 billion in the quarter. Sell-side analysts expect Brookfield Asset Management to post earnings per share of 3.22 for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 31. Shareholders of record on Monday, February 28 received a dividend of $0.14 per share. This represents a dividend of $0.56 on an annualized basis and a yield of 1.04%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 25. Brookfield Asset Management’s payout ratio is 23.43%.
Brookfield Asset Management Company Profile (Get a rating)
Brookfield Asset Management is an alternative asset manager and REIT/real estate investment manager firm focused on real estate, renewable energy, infrastructure, venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.
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