Brookfield Asset Management Inc. (NYSE:BAM – Get Rating) (TSE:BAM.A) received an average rating of “Buy” from the eight rating agencies that cover the company, MarketBeat Ratings reports. One research analyst rated the stock with a hold recommendation, four gave the company a buy recommendation and one gave the company a strong buy recommendation. The 12-month average price target among brokerages that have reported on the stock over the past year is $66.50.
BAM has been the subject of several analyst reports. TD Securities raised its price target on shares of Brookfield Asset Management from $72.00 to $73.00 and gave the stock a “buy on stock” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut its price target on Brookfield Asset Management shares from $57.00 to $52.00 in a Wednesday, July 13 research report. Royal Bank of Canada lowered its price target on Brookfield Asset Management shares from $72.00 to $68.00 and set an “outperform” rating on the stock in a Friday, May 20 research note . Finally, StockNews.com upgraded Brookfield Asset Management shares from a “sell” rating to a “hold” rating in a Tuesday, August 2 research note.
Brookfield Asset Management shares down 1.9%
NYSE: BAM opened at $48.80 on Friday. The company has a market capitalization of $79.86 billion, a P/E ratio of 21.40 and a beta of 1.31. Brookfield Asset Management has a 1-year low of $42.21 and a 1-year high of $62.47. The company’s fifty-day moving average price is $49.02 and its 200-day moving average price is $50.19. The company has a debt ratio of 1.44, a current ratio of 1.31 and a quick ratio of 1.11.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last released its quarterly results on Thursday, August 11. The financial services provider reported EPS of $0.34 for the quarter, missing the consensus estimate of $0.57 per ($0.23). Brookfield Asset Management posted a net margin of 4.48% and a return on equity of 3.02%. In the same quarter last year, the company posted EPS of $1.01. As a group, equity research analysts expect Brookfield Asset Management to post EPS of 3.19 for the current year.
Brookfield Asset Management announces dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29. Investors of record on Wednesday August 31 will receive a dividend of $0.14 per share. This represents a dividend of $0.56 on an annualized basis and a dividend yield of 1.15%. The ex-date of this dividend is Tuesday, August 30. Brookfield Asset Management’s dividend payout ratio is currently 24.56%.
Insider buying and selling
In other Brookfield Asset Management news, major shareholder Opps Tpic Holdings, Llc sold 3,963,416 shares of Brookfield Asset Management in a trade dated Thursday, September 8. The stock was sold at an average price of $18.85, for a total transaction of $74,710,391.60. Following the transaction, the insider now owns 12,263 shares of the company, valued at approximately $231,157.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Institutional entries and exits
A number of large investors have recently changed their holdings in the company. Norges Bank acquired a new stake in Brookfield Asset Management in the fourth quarter worth $810,807,000. Principal Financial Group Inc. increased its stake in Brookfield Asset Management by 12.8% in the first quarter. Principal Financial Group Inc. now owns 43,430,538 shares of the financial services provider valued at $2,456,964,000 after purchasing an additional 4,943,494 shares during the period. Goldman Sachs Group Inc. increased its stake in Brookfield Asset Management by 166.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider valued at $398,883,000 after purchasing an additional 4,402,115 shares during the period. FMR LLC increased its equity stake in Brookfield Asset Management by 23.4% in the second quarter. FMR LLC now owns 22,743,081 shares of the financial services provider worth $1,011,608,000 after acquiring an additional 4,315,285 shares in the last quarter. Finally, Select Equity Group LP purchased a new stake in Brookfield Asset Management stock in the first quarter worth approximately $200,315,000. 59.54% of the shares are currently held by institutional investors and hedge funds.
Brookfield Asset Management Company Profile
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Brookfield Asset Management is an alternative asset manager and REIT/real estate investment manager firm focused on real estate, renewable energy, infrastructure, venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.
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