Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) had its price target cut by Citigroup Inc. from $50.00 to $49.50 in a research report sent to investors on Friday. They currently have a buy rating on the financial services provider’s stock.
Several other research analysts have also recently weighed in on the company. BidaskClub cut Brookfield Asset Management from a hold rating to a sell rating in a research report on Saturday, August 5th. Royal Bank Of Canada restated an outperform rating on shares of Brookfield Asset Management in a research note on Thursday, September 28th. Scotiabank raised their price objective on Brookfield Asset Management from $42.75 to $56.00 and gave the stock an outperform rating in a research note on Wednesday, October 11th. Canaccord Genuity restated a buy rating and set a $47.00 price objective on shares of Brookfield Asset Management in a research note on Monday, October 2nd. Finally, ValuEngine downgraded Brookfield Asset Management from a buy rating to a hold rating in a report on Saturday, September 30th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $47.00.
Shares of Brookfield Asset Management (NYSE:BAM) opened at $42.21 on Friday. The firm has a market capitalization of $41,544.93, a price-to-earnings ratio of 93.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 1.29. Brookfield Asset Management has a 52-week low of $32.04 and a 52-week high of $43.15.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 1.71%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.14. Brookfield Asset Management’s payout ratio is 124.45%.
A number of hedge funds have recently added to or reduced their stakes in BAM. QS Investors LLC boosted its stake in Brookfield Asset Management by 69.8% during the 2nd quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 1,150 shares during the last quarter. Veritas Investment Management UK Ltd purchased a new position in shares of Brookfield Asset Management in the 3rd quarter worth approximately $149,000. Atlantic Trust LLC purchased a new position in shares of Brookfield Asset Management in the 2nd quarter worth approximately $191,000. Visionary Asset Management Inc. purchased a new position in shares of Brookfield Asset Management in the 2nd quarter worth approximately $201,000. Finally, HM Payson & Co. purchased a new position in shares of Brookfield Asset Management in the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 52.06% of the company’s stock.
Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.
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