Brookfield Asset Management (NYSE:BAM) Price Target Cut to $56.00 by Analysts at Scotiabank

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target cut by Scotiabank from $64.00 to $56.00 in a research report report published on Wednesday, MarketBeat.com reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other equities research analysts also recently commented on BAM. Zacks Research downgraded Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. UBS Group set a $52.00 price objective on shares of Brookfield Asset Management in a report on Friday, February 20th. Finally, The Goldman Sachs Group decreased their target price on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.18.

Brookfield Asset Management Stock Up 1.9%

Shares of NYSE BAM opened at $43.68 on Wednesday. The company has a 50 day simple moving average of $48.55 and a 200-day simple moving average of $52.44. The company has a market capitalization of $71.55 billion, a P/E ratio of 28.74, a P/E/G ratio of 1.52 and a beta of 1.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.92. Brookfield Asset Management has a 1 year low of $41.78 and a 1 year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%. On average, equities research analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a yield of 4.6%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. Brookfield Asset Management’s payout ratio is currently 132.24%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors have recently modified their holdings of BAM. Zions Bancorporation National Association UT lifted its stake in Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 345 shares in the last quarter. Manchester Capital Management LLC grew its position in Brookfield Asset Management by 559.5% in the 2nd 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 in the last quarter. LOM Asset Management Ltd acquired a new position in Brookfield Asset Management in the 4th quarter valued at about $31,000. Sagard Holdings Management Inc. purchased a new stake in Brookfield Asset Management during the second quarter worth about $39,000. Finally, eCIO Inc. acquired a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $42,000. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.