Brookfield Asset Management (NYSE:BAM) Price Target Lowered to $49.00 at The Goldman Sachs Group

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target trimmed by The Goldman Sachs Group from $60.00 to $49.00 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

BAM has been the subject of a number of other reports. Piper Sandler lowered their price target on shares of Brookfield Asset Management from $53.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday. Morgan Stanley set a $63.00 price target on shares of Brookfield Asset Management in a report on Tuesday, February 17th. Scotiabank decreased their price objective on shares of Brookfield Asset Management from $64.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. 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 issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.82.

Brookfield Asset Management Trading Down 0.7%

NYSE:BAM opened at $43.93 on Tuesday. The company has a fifty day moving average of $47.17 and a 200 day moving average of $51.53. Brookfield Asset Management has a 52 week low of $41.78 and a 52 week high of $64.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $71.96 billion, a P/E ratio of 28.90, a P/E/G ratio of 1.57 and a beta of 1.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results 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. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. On average, research analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were issued a $0.5025 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, February 27th. This represents a $2.01 annualized dividend and a yield of 4.6%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.24%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BAM. AQR Capital Management LLC bought a new position in Brookfield Asset Management in the 1st quarter worth $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Brookfield Asset Management by 10.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock worth $12,648,000 after buying an additional 24,013 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Brookfield Asset Management by 24.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock worth $139,000 after buying an additional 497 shares during the period. Invesco Ltd. grew its position in shares of Brookfield Asset Management by 38.7% in the 2nd quarter. Invesco Ltd. now owns 1,867,350 shares of the financial services provider’s stock worth $103,227,000 after buying an additional 521,282 shares during the period. Finally, Amundi grew its position in shares of Brookfield Asset Management by 57.6% in the 2nd quarter. Amundi now owns 475,199 shares of the financial services provider’s stock worth $26,393,000 after buying an additional 173,673 shares during the period. 68.41% of the stock is currently owned by institutional investors.

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.