Brookfield Asset Management (NYSE:BAM) Given New $59.00 Price Target at Keefe, Bruyette & Woods

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target cut by Keefe, Bruyette & Woods from $62.00 to $59.00 in a research report report published on Monday,Benzinga reports. They currently have an underperform rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group upped their price target on Brookfield Asset Management from $55.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, August 13th. Royal Bank Of Canada lifted their price objective on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. BMO Capital Markets increased their target price on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Brookfield Asset Management in a research report on Wednesday, November 5th. Finally, Scotiabank cut their price target on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating on the stock in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.23.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $53.45 on Monday. The stock has a market cap of $87.54 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.04 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. Brookfield Asset Management has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The firm’s 50-day simple moving average is $56.54 and its 200 day simple moving average is $57.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. As a group, research analysts anticipate that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a dividend of $0.4375 per share. The ex-dividend date is Friday, November 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.3%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 109.38%.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently bought and sold shares of BAM. MAI Capital Management increased its position in Brookfield Asset Management by 7.3% in the third quarter. MAI Capital Management now owns 130,150 shares of the financial services provider’s stock worth $7,411,000 after buying an additional 8,808 shares during the last quarter. Cary Street Partners Financial LLC increased its holdings in Brookfield Asset Management by 227.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 562 shares during the last quarter. AXQ Capital LP purchased a new stake in Brookfield Asset Management in the 3rd quarter worth about $417,000. Compound Planning Inc. raised its stake in Brookfield Asset Management by 17.0% in the 3rd quarter. Compound Planning Inc. now owns 16,269 shares of the financial services provider’s stock valued at $926,000 after acquiring an additional 2,368 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Brookfield Asset Management by 114.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,974 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 1,053 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.