Brookfield Asset Management (NYSE:BAM) Price Target Lowered to $48.00 at Piper Sandler

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price trimmed by Piper Sandler from $53.00 to $48.00 in a research note released on Tuesday morning, Marketbeat reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other research firms have also recently commented on BAM. The Goldman Sachs Group reduced their target price on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. Scotiabank reduced their target price on Brookfield Asset Management from $64.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Brookfield Asset Management has an average rating of “Hold” and an average target price of $61.82.

Brookfield Asset Management Trading Down 0.7%

Brookfield Asset Management stock opened at $43.93 on Tuesday. The stock has a market cap of $71.96 billion, a P/E ratio of 28.90, a PEG ratio of 1.57 and a beta of 1.38. Brookfield Asset Management has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The firm’s fifty day moving average price is $47.17 and its 200-day moving average price is $51.53. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 net margin of 51.59% and a return on equity of 29.81%. Equities research analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were given a dividend of $0.5025 per share. The ex-dividend date was Friday, February 27th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.44. 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 Trading of Brookfield Asset Management

A number of institutional investors have recently modified their holdings of BAM. AQR Capital Management LLC purchased a new stake in shares of Brookfield Asset Management during the first quarter worth about $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Brookfield Asset Management by 10.1% during the first 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 purchasing an additional 24,013 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Brookfield Asset Management by 24.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 497 shares during the period. Invesco Ltd. boosted its holdings in shares of Brookfield Asset Management by 38.7% during the second quarter. Invesco Ltd. now owns 1,867,350 shares of the financial services provider’s stock worth $103,227,000 after purchasing an additional 521,282 shares during the period. Finally, Amundi lifted its holdings in Brookfield Asset Management by 57.6% in the second 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 hedge funds and other 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.