Brookfield Asset Management (NYSE:BAM) Price Target Raised to $54.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective raised by Royal Bank of Canada from $50.00 to $54.00 in a research report report published on Monday, BayStreet.CA reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on BAM. BMO Capital Markets increased their price objective on Brookfield Asset Management from $55.00 to $59.00 and gave the stock an outperform rating in a research note on Friday, August 9th. TD Securities increased their price objective on Brookfield Asset Management from $63.00 to $67.00 and gave the stock a buy rating in a research note on Friday, August 9th. Finally, Citigroup increased their price objective on Brookfield Asset Management from $54.00 to $56.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. Six analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and a consensus price target of $56.50.

Shares of NYSE BAM opened at $50.05 on Monday. Brookfield Asset Management has a 12 month low of $36.58 and a 12 month high of $51.16. The company has a market cap of $50.81 billion, a price-to-earnings ratio of 17.48 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $48.98 and a 200-day simple moving average of $47.07.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.11 by $0.25. Brookfield Asset Management had a return on equity of 3.38% and a net margin of 4.86%. The business had revenue of $16.92 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the prior year, the business posted $0.77 earnings per share. Brookfield Asset Management’s revenue was up 27.5% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 30th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, August 29th.

In related news, Director Brookfield Asset Management In sold 1,900,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $23.75, for a total value of $45,125,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Stephens Inc. AR raised its stake in shares of Brookfield Asset Management by 2.0% during the 2nd quarter. Stephens Inc. AR now owns 11,597 shares of the financial services provider’s stock worth $554,000 after purchasing an additional 231 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Brookfield Asset Management by 4.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,468 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 234 shares in the last quarter. Advisor Partners LLC raised its stake in shares of Brookfield Asset Management by 4.0% during the 1st quarter. Advisor Partners LLC now owns 7,272 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 279 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of Brookfield Asset Management by 24.2% during the 2nd quarter. Captrust Financial Advisors now owns 1,644 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 320 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in shares of Brookfield Asset Management by 6.3% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,726 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 339 shares in the last quarter. 60.88% of the stock is owned by institutional investors.

About Brookfield Asset Management

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

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