Brookfield Asset Management’s (BAM) “Neutral” Rating Reiterated at Piper Sandler

Piper Sandler restated their neutral rating on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research report report published on Friday,Benzinga reports. They currently have a $50.00 target price on the financial services provider’s stock, down from their prior target price of $53.00.

Several other equities research analysts also recently commented on BAM. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Brookfield Asset Management in a report on Wednesday, August 12th. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Scotia raised their target price on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a report on Thursday, August 6th. UBS Group lifted their target price on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Finally, National Bank Financial boosted their price target on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Hold” and an average price target of $58.65.

Brookfield Asset Management Stock Down 0.0%

NYSE BAM opened at $46.04 on Friday. Brookfield Asset Management has a 12 month low of $42.20 and a 12 month high of $62.57. The company has a market capitalization of $75.43 billion, a P/E ratio of 26.77, a PEG ratio of 1.89 and a beta of 1.27. The company’s 50 day simple moving average is $49.82 and its 200 day simple moving average is $47.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. Equities research analysts expect that Brookfield Asset Management will post 1.78 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.5025 dividend. This represents a $2.01 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Asset Management’s dividend payout ratio is currently 116.86%.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently bought and sold shares of BAM. Cooke & Bieler LP raised its position in Brookfield Asset Management by 48.6% during the fourth quarter. Cooke & Bieler LP now owns 2,001,903 shares of the financial services provider’s stock valued at $104,880,000 after acquiring an additional 655,009 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in Brookfield Asset Management by 6.3% in the second quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider’s stock worth $227,422,000 after acquiring an additional 294,966 shares in the last quarter. Liontrust Investment Partners LLP acquired a new position in shares of Brookfield Asset Management during the 1st quarter worth $11,161,000. Nicola Wealth Management LTD. increased its stake in shares of Brookfield Asset Management by 16.3% during the 4th quarter. Nicola Wealth Management LTD. now owns 251,758 shares of the financial services provider’s stock worth $13,190,000 after purchasing an additional 35,200 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Brookfield Asset Management by 17.7% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 942,000 shares of the financial services provider’s stock valued at $41,867,000 after purchasing an additional 142,000 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management Ltd. is a global alternative asset manager that provides investment management services to institutional investors, governments, financial institutions and private-wealth clients. The company manages and invests capital on behalf of clients through a range of private and public investment strategies.

Its principal investment businesses include real estate, infrastructure, renewable power and transition, private equity, and credit. Brookfield seeks to invest in high-quality assets and businesses, often taking an active ownership and operating role.