Brookfield Asset Management Inc (BAM) PT Raised to $50.00 at TD Securities
Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) had its price objective raised by TD Securities from $47.00 to $50.00 in a research report released on Friday morning. The firm currently has a buy rating on the financial services provider’s stock.
A number of other research analysts also recently commented on BAM. Royal Bank Of Canada raised their target price on shares of Brookfield Asset Management from $41.00 to $42.00 and gave the company an outperform rating in a research report on Friday, May 12th. Keefe, Bruyette & Woods reissued a buy rating and set a $45.00 target price on shares of Brookfield Asset Management in a research report on Friday, May 12th. ValuEngine downgraded shares of Brookfield Asset Management from a buy rating to a hold rating in a research report on Friday, June 2nd. BidaskClub raised shares of Brookfield Asset Management from a hold rating to a buy rating in a research report on Thursday, June 29th. Finally, Scotiabank raised their target price on shares of Brookfield Asset Management from $41.75 to $42.50 and gave the company an outperform rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Brookfield Asset Management presently has a consensus rating of Buy and an average price target of $42.44.
Shares of Brookfield Asset Management (BAM) opened at 38.84 on Friday. The firm has a 50-day moving average of $39.06 and a 200-day moving average of $37.48. Brookfield Asset Management has a one year low of $32.04 and a one year high of $40.09. The stock has a market cap of $43.70 billion, a PE ratio of 36.33 and a beta of 1.03.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Thursday, August 10th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by $0.28. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $5.27 billion. Brookfield Asset Management had a net margin of 4.87% and a return on equity of 2.14%. The company’s revenue for the quarter was up 58.1% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. On average, equities research analysts expect that Brookfield Asset Management will post $0.99 earnings per share for the current fiscal year.
Brookfield Asset Management declared that its Board of Directors has initiated a share repurchase program on Friday, May 19th that permits the company to repurchase 82,960,000 outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, August 29th. Brookfield Asset Management’s payout ratio is currently 43.75%.
Several hedge funds and other institutional investors have recently modified their holdings of BAM. QS Investors LLC increased its position in shares of Brookfield Asset Management by 69.8% in the second quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock worth $110,000 after buying an additional 1,150 shares during the last quarter. Group One Trading L.P. purchased a new position in shares of Brookfield Asset Management during the first quarter worth about $186,000. Visionary Asset Management Inc. purchased a new position in shares of Brookfield Asset Management during the second quarter worth about $201,000. HM Payson & Co. purchased a new position in shares of Brookfield Asset Management during the second quarter worth about $203,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in shares of Brookfield Asset Management by 112.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,176 shares of the financial services provider’s stock worth $203,000 after buying an additional 2,738 shares during the last quarter. 53.96% of the stock is currently owned by hedge funds and other institutional investors.
Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.
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