National Bankshares Analysts Give Brookfield Asset Management (NYSE:BAM) a $71.00 Price Target

National Bankshares set a $71.00 price target on Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a report published on Tuesday,BayStreet.CA reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Tuesday, April 15th. Morgan Stanley upped their price target on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. raised their price objective on Brookfield Asset Management from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Wells Fargo & Company boosted their target price on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an “underweight” rating in a report on Friday, July 11th. Finally, Bank of America raised Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.06.

Brookfield Asset Management Price Performance

BAM opened at $61.64 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. The company has a market cap of $100.94 billion, a price-to-earnings ratio of 43.72, a price-to-earnings-growth ratio of 2.39 and a beta of 1.43. The stock has a fifty day simple moving average of $57.20 and a two-hundred day simple moving average of $54.80. Brookfield Asset Management has a 12-month low of $38.18 and a 12-month high of $63.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, May 30th. Brookfield Asset Management’s dividend payout ratio is 124.11%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Brookfield Asset Management by 975.9% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider’s stock valued at $85,463,000 after purchasing an additional 1,601,155 shares during the last quarter. Millennium Management LLC grew its position in Brookfield Asset Management by 461.5% during the first quarter. Millennium Management LLC now owns 1,722,683 shares of the financial services provider’s stock valued at $83,464,000 after buying an additional 1,415,866 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Brookfield Asset Management by 58.9% during the first quarter. The Manufacturers Life Insurance Company now owns 3,360,125 shares of the financial services provider’s stock valued at $163,354,000 after buying an additional 1,246,011 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Brookfield Asset Management by 107.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,363,192 shares of the financial services provider’s stock valued at $114,497,000 after buying an additional 1,224,012 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Brookfield Asset Management in the fourth quarter worth approximately $43,321,000. Institutional investors own 68.41% of the company’s stock.

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.