Brookfield Asset Management Inc. (NYSE: BAM – Get a rating) (TSE: BAM.A) received an average “Buy” recommendation from the twelve research companies currently covering the business, market beat reports. Two analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The 1-year average price target among brokers who updated their coverage on the stock in the past year is $66.33.
Several equity research analysts have recently released reports on the stock. Credit Suisse Group has upgraded Brookfield Asset Management shares from a “neutral” rating to an “outperforming” rating and raised its price target for the stock from $68.00 to $71.50 in a rating of research from Wednesday, April 27. Deutsche Bank Aktiengesellschaft cut its price target on Brookfield Asset Management shares from $62.00 to $60.00 in a report on Friday. Citigroup raised its price target on shares of Brookfield Asset Management from $61.00 to $65.50 in a Friday, February 11 report. Zacks Investment Research upgraded Brookfield Asset Management’s shares from a “sell” rating to a “hold” rating in a report released Monday, May 9. Finally, Royal Bank of Canada cut its price target on Brookfield Asset Management shares from $72.00 to $68.00 and set an “outperform” rating for the company in a report released Friday.
Shares of BAM-share opened at $47.71 on Friday. The company has a 50-day moving average of $53.50 and a 200-day moving average of $56.03. Brookfield Asset Management has a 12-month low of $44.13 and a 12-month high of $62.47. The company has a market capitalization of $78.31 billion, a P/E ratio of 19.96 and a beta of 1.31.
Brookfield Asset Management (NYSE: BAM – Get a rating) (TSE: BAM.A) last released its quarterly results on Thursday, May 12. The financial services provider reported earnings per share (EPS) of $0.81 for the quarter, beating the consensus estimate of $0.70 by $0.11. Brookfield Asset Management posted a net margin of 5.24% and a return on equity of 3.21%. The company posted revenue of $21.88 billion in the quarter, versus analyst estimates of $18.35 billion. In the same quarter last year, the company posted EPS of $1.80. Equity research analysts expect Brookfield Asset Management to post earnings per share of 3.22 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Tuesday, May 31 will receive a dividend of $0.14. This represents an annualized dividend of $0.56 and a yield of 1.17%. The ex-dividend date is Friday, May 27. Brookfield Asset Management’s payout ratio is 23.43%.
Separately, major shareholder Oaktree Capital Management Gp sold 585,735 shares of the company in a transaction on Tuesday, April 19. The shares were sold at an average price of $31.00, for a total transaction of $18,157,785.00. The transaction was disclosed in a legal filing with the SEC, available at the SEC website. Additionally, major shareholder Brookfield Asset Management In sold 5,925 shares of the company in a trade on Tuesday, April 12. The shares were sold at an average price of $32.13, for a total transaction of $190,370.25. Disclosure of this sale can be found here. In the past three months, insiders have sold 3,976,384 shares of the company valued at $105,795,602.
Institutional investors have recently been buying and selling shares of the company. During the 4th quarter, Disciplined Investments LLC acquired a new stake in shares of Brookfield Asset Management worth $26,000. Strategic Asset Management LLC increased its position in Brookfield Asset Management by 121.5% in the fourth quarter. Strategic Asset Management LLC now owns 443 shares of the financial services provider worth $27,000 after purchasing an additional 243 shares during the period. GoalVest Advisory LLC bought a new position in Brookfield Asset Management in Q1 worth $28,000. Benjamin F. Edwards & Company Inc. acquired a new position in Brookfield Asset Management in Q4 worth $38,000. Finally, Massmutual Trust Co. FSB ADV increased its position in Brookfield Asset Management by 46.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider worth $36,000 after buying 201 additional shares during the period. Hedge funds and other institutional investors hold 60.24% of the company’s shares.
About Brookfield Asset Management (Get a rating)
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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