JPMorgan Chase & Co. Cuts Brookfield Asset Management (NYSE:BAM) Price Target to $60.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective trimmed by JPMorgan Chase & Co. from $72.00 to $60.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

BAM has been the subject of several other research reports. UBS Group set a $52.00 price objective on Brookfield Asset Management in a report on Friday, February 20th. Weiss Ratings upgraded Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 1st. The Goldman Sachs Group reduced their target price on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Morgan Stanley decreased their price target on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. Finally, BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $61.06.

Brookfield Asset Management Trading Up 1.9%

Shares of Brookfield Asset Management stock opened at $49.71 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.05. The firm has a market cap of $81.44 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business has a fifty day simple moving average of $45.90 and a 200-day simple moving average of $50.13. Brookfield Asset Management has a fifty-two week low of $42.20 and a fifty-two week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%. On average, equities analysts forecast that Brookfield Asset Management will post 1.73 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be given a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, May 29th. Brookfield Asset Management’s payout ratio is presently 132.24%.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAM. Zions Bancorporation National Association UT raised its position in Brookfield Asset Management by 241.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after buying an additional 345 shares during the period. LOM Asset Management Ltd purchased a new stake in Brookfield Asset Management in the 4th quarter worth about $31,000. eCIO Inc. purchased a new stake in Brookfield Asset Management in the 4th quarter worth about $42,000. Assetmark Inc. lifted its stake in Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 395 shares in the last quarter. Finally, Cary Street Partners Financial LLC lifted its stake 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 in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Brookfield Asset Management

Here are the key news stories impacting Brookfield Asset Management this week:

• Positive Sentiment: BAM reported first-quarter earnings of $0.43 per share, topping estimates, with fee-related earnings up 11% year over year to $772 million and fund raising of $21 billion in the quarter. Brookfield Asset Management Announces Strong First Quarter Results
• Positive Sentiment: The company also announced a quarterly dividend of $0.5025 per share, implying a 4.0% annualized yield, which may support investor interest in the stock. MarketBeat BAM page
• Neutral Sentiment: JPMorgan maintained a neutral view on BAM and lowered its price target to $60 from $72, signaling some caution despite the company’s solid fundamentals. J.P. Morgan Remains a Hold on Brookfield Asset Management Ltd. Class A (BAM)
• Neutral Sentiment: Brookfield also completed its acquisition of Peakstone Realty Trust, expanding its industrial real estate platform, though the immediate stock impact is likely limited. Brookfield Completes Acquisition of Peakstone Realty Trust

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.