Brookfield Asset Management (NYSE:BAM) Stock Rating Raised to “Strong-Buy” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) to a strong-buy rating in a research note published on Friday, MarketBeat Ratings reports. The brokerage currently has $41.00 price objective on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Scotiabank reissued an “outperform” rating and issued a $59.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 6th. Wall Street Zen lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. National Bank Financial lifted their target price on Brookfield Asset Management from $69.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Brookfield Asset Management in a research note on Wednesday, August 12th. Finally, Morgan Stanley set a $56.00 price objective on Brookfield Asset Management and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.39.

Brookfield Asset Management Stock Up 0.6%

Brookfield Asset Management stock opened at $44.81 on Friday. 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 has a fifty-two week low of $42.20 and a fifty-two week high of $59.33. The firm has a fifty day moving average price of $49.36 and a two-hundred day moving average price of $47.59. The firm has a market cap of $73.41 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 1.82 and a beta of 1.31.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $1.49 billion during 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%. As a group, analysts forecast that Brookfield Asset Management will post 1.78 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were paid a $0.5025 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $2.01 annualized dividend and a yield of 4.5%. Brookfield Asset Management’s payout ratio is currently 116.86%.

Institutional Investors Weigh In On Brookfield Asset Management

Several large investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in Brookfield Asset Management by 34.8% in the third quarter. Versant Capital Management Inc now owns 1,953 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 504 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Brookfield Asset Management by 131.4% during the 2nd quarter. Baird Financial Group Inc. now owns 45,809 shares of the financial services provider’s stock valued at $2,054,000 after acquiring an additional 26,011 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Brookfield Asset Management by 16.0% in the 2nd quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 408 shares during the period. Waverly Advisors LLC lifted its stake in shares of Brookfield Asset Management by 11.8% in the 2nd quarter. Waverly Advisors LLC now owns 15,264 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 1,608 shares during the period. Finally, Nykredit A S bought a new position in shares of Brookfield Asset Management in the 2nd quarter worth $2,689,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.