Shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) have earned an average rating of “Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $65.80.
Several equities research analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Credit Suisse Group lifted their target price on shares of Brookfield Asset Management from $60.00 to $68.00 and gave the stock an “average” rating in a research note on Monday, January 13th. They noted that the move was a valuation call. Citigroup cut shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. TD Securities lifted their target price on shares of Brookfield Asset Management from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday. Finally, CIBC reaffirmed a “buy” rating on shares of Brookfield Asset Management in a research note on Friday.
NYSE BAM traded up $1.33 on Friday, hitting $67.96. The company had a trading volume of 1,653,614 shares, compared to its average volume of 1,135,084. The company has a market capitalization of $66.95 billion, a PE ratio of 18.27 and a beta of 1.07. The company’s fifty day moving average price is $60.87 and its 200-day moving average price is $55.71. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.11 and a quick ratio of 0.89. Brookfield Asset Management has a 12-month low of $43.03 and a 12-month high of $68.34.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.49. Brookfield Asset Management had a net margin of 5.82% and a return on equity of 3.95%. The company had revenue of $17.82 billion for the quarter, compared to analysts’ expectations of $13.75 billion. During the same quarter in the previous year, the company posted $1.87 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, February 27th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.16.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Strategic Blueprint LLC acquired a new position in shares of Brookfield Asset Management during the 3rd quarter valued at about $25,000. Security National Trust Co. acquired a new position in shares of Brookfield Asset Management during the 4th quarter valued at about $31,000. HBC Financial Services PLLC acquired a new position in shares of Brookfield Asset Management during the 4th quarter valued at about $32,000. Vestcor Investment Management Corp acquired a new position in shares of Brookfield Asset Management during the 4th quarter valued at about $35,000. Finally, CWM LLC boosted its position in shares of Brookfield Asset Management by 122.5% during the 4th quarter. CWM LLC now owns 663 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 365 shares during the last quarter. 60.46% of the stock is currently owned by 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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