Brookfield Asset Management (NYSE:BAM) Given New $69.00 Price Target at National Bankshares

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective lowered by National Bankshares from $71.00 to $69.00 in a report released on Monday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on BAM. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $58.00 price objective on shares of Brookfield Asset Management in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Brookfield Asset Management in a report on Wednesday, October 8th. Morgan Stanley set a $62.00 price target on Brookfield Asset Management in a report on Monday, October 13th. Royal Bank Of Canada increased their price target on Brookfield Asset Management from $74.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Jefferies Financial Group increased their price target on Brookfield Asset Management from $55.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.14.

Brookfield Asset Management Price Performance

BAM stock opened at $54.57 on Monday. The company has a market capitalization of $89.37 billion, a P/E ratio of 36.62, a PEG ratio of 2.03 and a beta of 1.39. Brookfield Asset Management has a twelve month low of $41.78 and a twelve month high of $64.10. The business has a 50 day simple moving average of $57.78 and a 200-day simple moving average of $57.00. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. As a group, equities analysts anticipate that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $0.4375 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 3.2%. Brookfield Asset Management’s dividend payout ratio (DPR) is 117.45%.

Institutional Investors Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its holdings in Brookfield Asset Management by 1,270.6% in the second 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 during the period. Manchester Capital Management LLC lifted its holdings in Brookfield Asset Management by 559.5% in the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 442 shares during the period. Rossby Financial LCC acquired a new stake in Brookfield Asset Management in the first quarter valued at $28,000. Sagard Holdings Management Inc. acquired a new stake in Brookfield Asset Management in the second quarter valued at $39,000. Finally, GAMMA Investing LLC increased its position in shares of Brookfield Asset Management by 93.3% in the third quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider’s stock valued at $47,000 after buying an additional 401 shares in the last quarter. Institutional investors and hedge funds 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.