Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective increased by Deutsche Bank Aktiengesellschaft from $51.00 to $56.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other research firms have also weighed in on BAM. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. CIBC raised their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research note on Friday, July 19th. The Goldman Sachs Group lifted their target price on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a report on Monday, September 30th. Scotiabank increased their price target on shares of Brookfield Asset Management from $45.50 to $55.50 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Bank of America lifted their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $55.90 on Tuesday. The business has a fifty day moving average of $47.78 and a 200 day moving average of $42.55. The firm has a market capitalization of $24.83 billion, a price-to-earnings ratio of 49.47, a price-to-earnings-growth ratio of 2.63 and a beta of 1.42. Brookfield Asset Management has a 1 year low of $30.60 and a 1 year high of $57.48.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 91.12% and a net margin of 49.69%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, equities research analysts expect that Brookfield Asset Management will post 1.43 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.72%. Brookfield Asset Management’s payout ratio is currently 134.51%.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its stake in Brookfield Asset Management by 2.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 194,158 shares of the financial services provider’s stock worth $8,159,000 after purchasing an additional 4,820 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after buying an additional 758 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Brookfield Asset Management in the 1st quarter valued at $137,000. JCIC Asset Management Inc. increased its stake in shares of Brookfield Asset Management by 1.0% in the 1st quarter. JCIC Asset Management Inc. now owns 81,850 shares of the financial services provider’s stock worth $3,440,000 after acquiring an additional 840 shares during the last quarter. Finally, Karpas Strategies LLC raised its holdings in shares of Brookfield Asset Management by 0.7% during the 1st quarter. Karpas Strategies LLC now owns 263,513 shares of the financial services provider’s stock worth $11,073,000 after acquiring an additional 1,821 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

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.