Brookfield Asset Management (NYSE:BAM) Price Target Increased to $49.00 by Analysts at CIBC

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective lifted by CIBC from $47.00 to $49.00 in a report published on Friday, Benzinga reports. CIBC currently has an outperformer rating on the financial services provider’s stock.

BAM has been the subject of several other research reports. JPMorgan Chase & Co. initiated coverage on shares of Brookfield Asset Management in a report on Wednesday, May 15th. They issued a neutral rating and a $41.00 target price for the company. StockNews.com lowered shares of Brookfield Asset Management from a hold rating to a sell rating in a research note on Wednesday, July 10th. Scotiabank dropped their target price on shares of Brookfield Asset Management from $47.00 to $44.50 and set a sector outperform rating on the stock in a research report on Thursday, May 9th. Finally, Royal Bank of Canada upped their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company an outperform rating in a report on Monday, April 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $42.32.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $41.10 on Friday. Brookfield Asset Management has a 52 week low of $28.35 and a 52 week high of $43.00. The stock has a 50 day moving average price of $39.18 and a two-hundred day moving average price of $39.88. The firm has a market capitalization of $18.24 billion, a P/E ratio of 38.06, a P/E/G ratio of 1.91 and a beta of 1.62.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The business had revenue of $884.00 million during the quarter. On average, equities analysts forecast that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Friday, May 31st. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Institutional Trading of Brookfield Asset Management

Several hedge funds have recently made changes to their positions in the company. Partners Value Investments L.P. grew its stake in shares of Brookfield Asset Management by 0.9% during the 4th quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after acquiring an additional 280,098 shares during the period. Capital World Investors boosted its position in Brookfield Asset Management by 10.0% during the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock worth $986,656,000 after purchasing an additional 2,241,372 shares during the period. TD Asset Management Inc increased its stake in shares of Brookfield Asset Management by 8.6% in the first quarter. TD Asset Management Inc now owns 12,486,721 shares of the financial services provider’s stock worth $525,028,000 after purchasing an additional 988,538 shares in the last quarter. FIL Ltd raised its position in shares of Brookfield Asset Management by 66.1% in the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after purchasing an additional 4,501,410 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,760,414 shares of the financial services provider’s stock valued at $452,153,000 after buying an additional 186,765 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.