Brookfield Asset Management Inc (BAM) Receives $51.70 Consensus PT from Analysts

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Shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) have received an average rating of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is $51.70.

BAM has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective on Brookfield Asset Management from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. Scotiabank set a $53.00 price target on Brookfield Asset Management and gave the company a “buy” rating in a research note on Thursday, October 18th. Finally, BMO Capital Markets started coverage on Brookfield Asset Management in a research note on Thursday, September 20th. They issued an “outperform” rating and a $54.00 price target on the stock.

Shares of BAM stock traded up $0.05 during trading hours on Monday, reaching $40.61. The company had a trading volume of 84,927 shares, compared to its average volume of 1,005,479. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 1.05. The company has a market cap of $41.60 billion, a P/E ratio of 15.64 and a beta of 1.02. Brookfield Asset Management has a 1-year low of $37.22 and a 1-year high of $45.04.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Thursday, August 9th. The financial services provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.58. The business had revenue of $13.28 billion for the quarter. Brookfield Asset Management had a return on equity of 3.74% and a net margin of 5.49%. The business’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 EPS.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, August 31st were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Thursday, August 30th.

Several hedge funds and other institutional investors have recently made changes to their positions in BAM. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Brookfield Asset Management by 149.1% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,000,000 shares of the financial services provider’s stock valued at $243,248,000 after acquiring an additional 3,591,058 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Brookfield Asset Management by 49.6% in the 2nd quarter. Toronto Dominion Bank now owns 10,739,583 shares of the financial services provider’s stock valued at $434,794,000 after acquiring an additional 3,559,779 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Brookfield Asset Management by 9.0% in the 1st quarter. Principal Financial Group Inc. now owns 27,657,747 shares of the financial services provider’s stock valued at $1,078,648,000 after acquiring an additional 2,289,553 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in shares of Brookfield Asset Management by 182.7% in the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,974,800 shares of the financial services provider’s stock valued at $158,646,000 after acquiring an additional 1,922,500 shares in the last quarter. Finally, Addenda Capital Inc. grew its holdings in shares of Brookfield Asset Management by 96.9% in the 2nd quarter. Addenda Capital Inc. now owns 2,608,982 shares of the financial services provider’s stock valued at $103,668,000 after acquiring an additional 1,283,976 shares in the last quarter. Institutional investors own 60.38% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.

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Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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