Brookfield Asset Management (NYSE:BAM) Price Target Raised to $72.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective increased by JPMorgan Chase & Co. from $68.00 to $72.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other equities analysts also recently commented on BAM. Morgan Stanley set a $62.00 target price on shares of Brookfield Asset Management in a research report on Monday, October 13th. Keefe, Bruyette & Woods decreased their price target on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research note on Monday, November 10th. Scotiabank set a $64.00 price objective on Brookfield Asset Management and gave the company an “outperform” rating in a report on Thursday. Loop Capital set a $60.00 target price on Brookfield Asset Management in a report on Tuesday, January 6th. Finally, Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.33.

Brookfield Asset Management Price Performance

NYSE BAM opened at $49.69 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $81.39 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.10 and a beta of 1.40. The company has a 50 day moving average price of $52.41 and a two-hundred day moving average price of $55.58. Brookfield Asset Management has a 12-month low of $41.78 and a 12-month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. As a group, equities analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a $0.5025 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.01 annualized dividend and a yield of 4.0%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 109.38%.

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently modified their holdings of BAM. Vanguard Group Inc. raised its stake in Brookfield Asset Management by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock valued at $928,414,000 after purchasing an additional 297,790 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Brookfield Asset Management by 1.6% during the 2nd quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider’s stock worth $861,101,000 after purchasing an additional 250,068 shares during the period. Mackenzie Financial Corp raised its position in shares of Brookfield Asset Management by 2.5% during the second quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider’s stock valued at $631,412,000 after buying an additional 282,853 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Brookfield Asset Management by 7.3% in the fourth quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider’s stock valued at $411,972,000 after buying an additional 533,639 shares during the period. Finally, Norges Bank acquired a new stake in Brookfield Asset Management during the second quarter worth about $294,730,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.