Brookfield Asset Management (NYSE:BAM) Price Target Lowered to $62.00 at Morgan Stanley

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target reduced by Morgan Stanley from $63.00 to $62.00 in a report published on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on BAM. Zacks Research lowered shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. UBS Group set a $52.00 price target on shares of Brookfield Asset Management in a report on Friday, February 20th. The Goldman Sachs Group decreased their price target on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, Piper Sandler lowered their price target on Brookfield Asset Management from $53.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.76.

Brookfield Asset Management Stock Down 1.7%

Shares of BAM opened at $48.20 on Tuesday. The firm has a market cap of $78.96 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 2.00 and a beta of 1.38. The company’s fifty day moving average is $46.58 and its two-hundred day moving average is $50.75. Brookfield Asset Management has a fifty-two week low of $42.20 and a fifty-two 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.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. Analysts forecast that Brookfield Asset Management will post 1.76 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were issued a $0.5025 dividend. The ex-dividend date was Friday, February 27th. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.24%.

Institutional Trading of Brookfield Asset Management

A number of hedge funds have recently made changes to their positions in the company. Zions Bancorporation National Association UT boosted its stake in shares of Brookfield Asset Management by 241.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 345 shares during the period. LOM Asset Management Ltd purchased a new stake in Brookfield Asset Management during the 4th quarter worth $31,000. eCIO Inc. acquired a new position in Brookfield Asset Management in the 4th quarter worth $42,000. Assetmark Inc. lifted its holdings in Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after buying an additional 395 shares in the last quarter. Finally, Cary Street Partners Financial LLC boosted its position in Brookfield Asset Management by 227.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock valued at $46,000 after buying an additional 562 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

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.