Brookfield Asset Management (NYSE:BAM) Earns Buy Rating from Analysts at UBS Group

UBS Group assumed coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage issued 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 raised their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Scotiabank upped their target price on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Bank of America raised their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Brookfield Asset Management currently has an average rating of “Hold” and a consensus price target of $53.88.

Brookfield Asset Management Trading Down 7.0 %

NYSE BAM opened at $53.80 on Monday. The company has a fifty day simple moving average of $54.87 and a 200 day simple moving average of $46.17. Brookfield Asset Management has a 12-month low of $37.19 and a 12-month high of $59.58. The company has a market cap of $22.58 billion, a P/E ratio of 47.61, a PEG ratio of 2.43 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. Sell-side analysts predict that Brookfield Asset Management will post 1.47 EPS 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 paid a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.83%. Brookfield Asset Management’s payout ratio is presently 134.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hara Capital LLC bought a new stake in Brookfield Asset Management in the 3rd quarter valued at about $27,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Brookfield Asset Management during the 3rd quarter valued at approximately $27,000. Continuum Advisory LLC boosted its holdings in Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after buying an additional 285 shares during the period. Richardson Financial Services Inc. grew its stake in Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after buying an additional 755 shares in the last quarter. Finally, Legacy Bridge LLC bought a new stake in Brookfield Asset Management during the 2nd quarter valued at $52,000. Institutional investors 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.