Brookfield Asset Management (BAM) Receives $48.42 Consensus Price Target from Brokerages

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) has been assigned a consensus recommendation of “Buy” from the nine analysts that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $48.42.

Several research firms have weighed in on BAM. TheStreet cut Brookfield Asset Management from a “b-” rating to a “c+” rating in a research report on Thursday, January 25th. Royal Bank of Canada increased their price objective on Brookfield Asset Management from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. TD Securities increased their price objective on Brookfield Asset Management from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Scotiabank set a $49.00 price objective on Brookfield Asset Management and gave the stock a “buy” rating in a research report on Tuesday, March 27th.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp increased its position in shares of Brookfield Asset Management by 30.6% in the fourth quarter. Mackenzie Financial Corp now owns 14,712,354 shares of the financial services provider’s stock worth $640,576,000 after purchasing an additional 3,444,469 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Brookfield Asset Management by 19.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,436,990 shares of the financial services provider’s stock worth $541,506,000 after purchasing an additional 2,049,509 shares during the period. CIBC Asset Management Inc increased its position in shares of Brookfield Asset Management by 2.5% in the fourth quarter. CIBC Asset Management Inc now owns 10,665,101 shares of the financial services provider’s stock worth $466,222,000 after purchasing an additional 263,332 shares during the period. APG Asset Management N.V. increased its position in shares of Brookfield Asset Management by 3.9% in the fourth quarter. APG Asset Management N.V. now owns 4,414,689 shares of the financial services provider’s stock worth $160,566,000 after purchasing an additional 163,995 shares during the period. Finally, Marathon Asset Management LLP increased its position in shares of Brookfield Asset Management by 0.9% in the fourth quarter. Marathon Asset Management LLP now owns 3,176,770 shares of the financial services provider’s stock worth $138,757,000 after purchasing an additional 28,421 shares during the period. Institutional investors own 55.34% of the company’s stock.

BAM traded down $0.61 during trading hours on Wednesday, reaching $38.55. The company’s stock had a trading volume of 809,311 shares, compared to its average volume of 1,235,133. Brookfield Asset Management has a 52 week low of $36.07 and a 52 week high of $44.33. The company has a current ratio of 1.19, a quick ratio of 0.94 and a debt-to-equity ratio of 0.91. The stock has a market cap of $37,477.68, a PE ratio of 29.44 and a beta of 1.03.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.15 by $1.13. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $5.31 billion. Brookfield Asset Management had a return on equity of 2.02% and a net margin of 3.58%. The company’s quarterly revenue was up 88.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 EPS.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, February 27th.

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Brookfield Asset Management Company Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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