BMO Capital Markets Issues Positive Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price raised by BMO Capital Markets from $50.00 to $53.00 in a research report released on Thursday,BayStreet.CA reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on BAM. Royal Bank of Canada upped their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Scotiabank dropped their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday. Wells Fargo & Company decreased their price objective on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group raised their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.71.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $57.60 on Thursday. Brookfield Asset Management has a one year low of $37.29 and a one year high of $62.61. The company has a market cap of $25.52 billion, a P/E ratio of 50.97, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46. The business has a fifty day moving average of $56.41 and a two-hundred day moving average of $50.89.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. Sell-side analysts predict that Brookfield Asset Management will post 1.45 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Brookfield Asset Management by 2.3% in the 4th 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 during the period. Vanguard Group Inc. grew 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 valued at $916,676,000 after purchasing an additional 263,660 shares during the period. TD Asset Management Inc. grew its holdings 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 purchasing an additional 1,359,126 shares during the period. FIL Ltd increased its position in Brookfield Asset Management by 3.9% during the fourth quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock worth $833,581,000 after purchasing an additional 574,978 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Brookfield Asset Management by 3.7% during the fourth quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock worth $518,655,000 after purchasing an additional 339,072 shares during the period. 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.