Brookfield Asset Management (NYSE:BAM) Price Target Raised to $56.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective increased by BMO Capital Markets from $53.00 to $56.00 in a research note published on Thursday morning, MarketBeat reports. BMO Capital Markets currently has a market perform rating on the financial services provider’s stock.

Several other analysts have also recently commented on the stock. National Bank Financial assumed coverage on shares of Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an “outperform” rating and a $71.00 target price for the company. Royal Bank Of Canada assumed coverage on shares of Brookfield Asset Management in a research note on Wednesday, June 18th. They issued an “outperform” rating and a $72.00 target price for the company. Piper Sandler assumed coverage on shares of Brookfield Asset Management in a research note on Monday, June 30th. They issued a “neutral” rating and a $60.00 target price for the company. Bank of America raised shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Thursday, April 10th. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.33.

Brookfield Asset Management Trading Up 0.7%

Shares of BAM opened at $61.36 on Thursday. The stock has a market cap of $100.49 billion, a price-to-earnings ratio of 41.18, a price-to-earnings-growth ratio of 2.36 and a beta of 1.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. Brookfield Asset Management has a 1-year low of $38.95 and a 1-year high of $64.10. The firm has a 50 day simple moving average of $57.79 and a 200-day simple moving average of $55.05.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.4375 per share. The ex-dividend date is Friday, August 29th. This represents a $1.75 annualized dividend and a dividend yield of 2.9%. Brookfield Asset Management’s payout ratio is presently 117.45%.

Hedge Funds Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently made changes to their positions in BAM. ST Germain D J Co. Inc. acquired a new position in shares of Brookfield Asset Management during the 1st quarter valued at $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Brookfield Asset Management by 1,270.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 432 shares in the last quarter. Rossby Financial LCC acquired a new position in Brookfield Asset Management in the 1st quarter worth $28,000. Truvestments Capital LLC lifted its holdings in Brookfield Asset Management by 85.5% in the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after buying an additional 432 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after buying an additional 325 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.