Brookfield Asset Management (NYSE:BAM) Now Covered by Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a report released on Wednesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $72.00 price target on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on BAM. Wells Fargo & Company upped their target price on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the company an “underweight” rating in a research note on Friday, May 23rd. Morgan Stanley upped their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an “equal weight” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. upped their target price on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, TD Securities upped their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management currently has an average rating of “Moderate Buy” and a consensus target price of $59.46.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $54.60 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a 50-day moving average of $54.50 and a two-hundred day moving average of $54.32. The stock has a market cap of $88.04 billion, a P/E ratio of 38.72, a PEG ratio of 1.96 and a beta of 1.51. Brookfield Asset Management has a 1-year low of $37.33 and a 1-year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. On average, research analysts expect that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a $0.4375 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.75 annualized dividend and a dividend yield of 3.21%. Brookfield Asset Management’s payout ratio is currently 124.11%.

Institutional Investors Weigh In On Brookfield Asset Management

Large investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Brookfield Asset Management by 2.3% in the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after acquiring an additional 447,642 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock valued at $832,833,000 after acquiring an additional 302,852 shares in the last quarter. TD Asset Management Inc. boosted its holdings in shares of 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 acquiring an additional 1,359,126 shares in the last quarter. Capital International Investors boosted its holdings in shares of Brookfield Asset Management by 0.7% in the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock valued at $873,354,000 after acquiring an additional 116,008 shares in the last quarter. Finally, FIL Ltd boosted its holdings in shares of Brookfield Asset Management by 3.9% in the fourth quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock valued at $833,581,000 after acquiring an additional 574,978 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

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.