Brookfield Asset Management (NYSE:BAM) Upgraded at Bank of America

Bank of America upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a neutral rating to a buy rating in a research report released on Thursday morning, MarketBeat.com reports. Bank of America currently has $65.00 target price on the financial services provider’s stock.

Several other equities analysts also recently commented on BAM. Scotiabank cut their price objective on Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating on the stock in a research report on Monday. CIBC raised their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods decreased their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. BMO Capital Markets increased their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Finally, HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Three analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.75.

Brookfield Asset Management Stock Down 2.1 %

Brookfield Asset Management stock opened at $46.05 on Thursday. The business’s 50-day moving average price is $52.08 and its 200 day moving average price is $53.58. Brookfield Asset Management has a 52 week low of $37.29 and a 52 week high of $62.61. The firm has a market cap of $75.39 billion, a price-to-earnings ratio of 34.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Equities analysts expect that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were issued a dividend of $0.4375 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.80%. Brookfield Asset Management’s payout ratio is presently 132.58%.

Institutional Trading of Brookfield Asset Management

Several institutional investors have recently made changes to their positions in BAM. FMR LLC increased its stake in shares of Brookfield Asset Management by 2.3% in the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after buying an additional 447,642 shares in the last quarter. Vanguard Group Inc. raised its holdings in Brookfield Asset Management by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after purchasing an additional 263,660 shares during the period. TD Asset Management Inc. grew its stake in Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock valued at $903,323,000 after acquiring an additional 1,359,126 shares during the period. Capital International Investors increased its stake in Brookfield Asset Management by 0.7% during the 4th quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock worth $873,354,000 after purchasing an additional 116,008 shares in the last quarter. Finally, FIL Ltd lifted its position in Brookfield Asset Management by 3.9% in the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock valued at $833,581,000 after acquiring an additional 574,978 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Asset Management

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.