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

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

Several analysts recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from C$57.00 to C$61.00 and gave the stock an “outperform” rating in a research note on Friday, August 13th. Citigroup assumed coverage on Brookfield Asset Management in a research note on Thursday, August 12th. They issued a “buy” rating and a $68.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Brookfield Asset Management from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, June 18th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Brookfield Asset Management from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, July 12th. They noted that the move was a valuation call. Finally, Royal Bank of Canada restated a “buy” rating and issued a $83.00 price target on shares of Brookfield Asset Management in a research report on Tuesday, September 21st. Three investment 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 has an average rating of “Buy” and an average target price of $57.50.

The company has a market cap of $94.62 billion, a price-to-earnings ratio of 32.26 and a beta of 1.25. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.18. The firm’s 50-day moving average price is $55.69 and its 200 day moving average price is $51.17.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, August 11th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.26). The company had revenue of $18.29 billion for the quarter. Brookfield Asset Management had a net margin of 4.21% and a return on equity of 2.43%. During the same quarter in the previous year, the firm earned ($0.43) EPS. Analysts forecast that Brookfield Asset Management Inc. will post 2.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 29th. Stockholders of record on Tuesday, August 31st were given a dividend of $0.13 per share. The ex-dividend date was Monday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.90%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently -433.33%.

A number of institutional investors have recently modified their holdings of the stock. Trustcore Financial Services LLC acquired a new position in Brookfield Asset Management during the 2nd quarter worth approximately $26,000. Strategic Blueprint LLC bought a new stake in shares of Brookfield Asset Management during the second quarter valued at approximately $36,000. Exchange Traded Concepts LLC acquired a new position in shares of Brookfield Asset Management during the second quarter worth approximately $40,000. Red Door Wealth Management LLC bought a new position in shares of Brookfield Asset Management in the 2nd quarter worth $40,000. Finally, Vigilant Capital Management LLC acquired a new stake in Brookfield Asset Management in the 2nd quarter valued at $87,000. 61.37% of the stock is owned by institutional investors and hedge funds.

About Brookfield Asset Management (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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