Brookfield Asset Management (NYSE:BAM) Sets New 12-Month High at $57.83

Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $57.83 and last traded at $57.77, with a volume of 32189 shares trading hands. The stock had previously closed at $56.77.

Several research analysts have recently issued reports on BAM shares. Scotiabank raised their target price on shares of Brookfield Asset Management from $62.50 to $63.00 and gave the company an “outperform” rating in a research note on Monday, August 16th. Zacks Investment Research cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Friday, August 13th. Royal Bank of Canada reiterated a “buy” rating and set a $83.00 target price on shares of Brookfield Asset Management in a research report on Tuesday, September 21st. Citigroup started coverage on Brookfield Asset Management in a research note on Thursday, August 12th. They issued a “buy” rating and a $68.00 price target on the stock. Finally, BMO Capital Markets increased their price target on shares of Brookfield Asset Management from C$57.00 to C$61.00 and gave the company an “outperform” rating in a research report on Friday, August 13th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $57.50.

The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $94.62 billion, a P/E ratio of 32.26 and a beta of 1.25. The business has a fifty day moving average price of $55.69 and a 200 day moving average price of $51.17.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, August 11th. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.26). Brookfield Asset Management had a return on equity of 2.43% and a net margin of 4.21%. The firm had revenue of $18.29 billion for the quarter. During the same period in the prior year, the business posted ($0.43) earnings per share. As a group, equities analysts forecast that Brookfield Asset Management Inc. will post 2.17 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 29th. Investors of record on Tuesday, August 31st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.90%. The ex-dividend date was Monday, August 30th. Brookfield Asset Management’s payout ratio is -433.33%.

Large investors have recently modified their holdings of the business. Partners Value Investments LP grew its holdings in shares of Brookfield Asset Management by 0.6% in the 2nd quarter. Partners Value Investments LP now owns 129,548,526 shares of the financial services provider’s stock valued at $6,604,383,855,000 after acquiring an additional 789,989 shares in the last quarter. Bank of Montreal Can boosted its position in Brookfield Asset Management by 8.9% during the second quarter. Bank of Montreal Can now owns 59,789,257 shares of the financial services provider’s stock valued at $3,136,545,000 after purchasing an additional 4,864,610 shares during the last quarter. Vanguard Group Inc. boosted its position in Brookfield Asset Management by 1.3% during the second quarter. Vanguard Group Inc. now owns 40,760,988 shares of the financial services provider’s stock valued at $2,077,996,000 after purchasing an additional 506,508 shares during the last quarter. TD Asset Management Inc. grew its stake in Brookfield Asset Management by 3.1% in the first quarter. TD Asset Management Inc. now owns 30,455,785 shares of the financial services provider’s stock valued at $1,354,559,000 after purchasing an additional 910,856 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Brookfield Asset Management by 0.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 22,622,429 shares of the financial services provider’s stock worth $1,178,650,000 after purchasing an additional 212,211 shares during the last quarter. 61.37% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile (NYSE:BAM)

Brookfield Asset Management, Inc engages in the management of public and private investment products and services for institutional and retail clients. It operates through the following segments: Asset Management, Real Estate, Renewable Power, Infrastructure, Private Equity, Residential Development, and Corporate Activities.

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