Brookfield Asset Management Inc. (NYSE:BAM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A) have received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $66.50.

A number of brokerages recently weighed in on BAM. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Monday. TD Securities boosted their price objective on Brookfield Asset Management from $72.00 to $73.00 and gave the stock an “action list buy” rating in a research report on Thursday, September 15th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Brookfield Asset Management from $57.00 to $52.00 in a research report on Wednesday, July 13th.

Brookfield Asset Management Trading Down 1.9 %

Shares of BAM opened at $45.56 on Friday. Brookfield Asset Management has a 52-week low of $42.21 and a 52-week high of $62.47. The business’s fifty day moving average is $49.35 and its 200-day moving average is $49.92. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.11 and a current ratio of 1.31. The firm has a market cap of $74.56 billion, a price-to-earnings ratio of 19.98 and a beta of 1.31.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, August 11th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.23). Brookfield Asset Management had a net margin of 4.48% and a return on equity of 3.02%. During the same period in the prior year, the business posted $1.01 earnings per share. Equities analysts anticipate that Brookfield Asset Management will post 3.19 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.23%. The ex-dividend date is Tuesday, August 30th. Brookfield Asset Management’s payout ratio is presently 24.56%.

Insiders Place Their Bets

In other Brookfield Asset Management news, major shareholder Opps Tpic Holdings, Llc sold 3,963,416 shares of Brookfield Asset Management stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $18.85, for a total transaction of $74,710,391.60. Following the transaction, the insider now directly owns 12,263 shares of the company’s stock, valued at approximately $231,157.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Regentatlantic Capital LLC lifted its stake in shares of Brookfield Asset Management by 22.6% in the 1st quarter. Regentatlantic Capital LLC now owns 4,805 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 887 shares during the period. Norges Bank acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at about $810,807,000. Synovus Financial Corp lifted its stake in shares of Brookfield Asset Management by 162.2% in the 1st quarter. Synovus Financial Corp now owns 68,007 shares of the financial services provider’s stock valued at $3,845,000 after purchasing an additional 42,065 shares during the period. D.A. Davidson & CO. lifted its stake in shares of Brookfield Asset Management by 5.6% in the 1st quarter. D.A. Davidson & CO. now owns 6,981 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 371 shares during the period. Finally, Glenview Trust Co lifted its stake in shares of Brookfield Asset Management by 13.8% in the 1st quarter. Glenview Trust Co now owns 9,291 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 1,129 shares during the period. 59.54% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

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Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and 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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Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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