Brookfield Asset Management (NYSE:BAM) Given New $64.00 Price Target at TD Securities

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target raised by TD Securities from $61.00 to $64.00 in a research report released on Tuesday, BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Scotiabank upped their target price on shares of Brookfield Asset Management from $45.50 to $55.50 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. CIBC raised their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. Wells Fargo & Company lifted their price objective on Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on Brookfield Asset Management from $51.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday. Finally, The Goldman Sachs Group lifted their price target on Brookfield Asset Management from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Price Performance

BAM opened at $55.56 on Tuesday. Brookfield Asset Management has a 12 month low of $30.59 and a 12 month high of $57.36. The stock has a market capitalization of $24.68 billion, a P/E ratio of 49.17, a P/E/G ratio of 2.55 and a beta of 1.42. The business has a 50 day simple moving average of $47.46 and a 200-day simple moving average of $42.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned $0.35 earnings per share. Research analysts anticipate that Brookfield Asset Management will post 1.43 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Bank of Nova Scotia Trust Co. grew its position in shares of Brookfield Asset Management by 4.4% in the first quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 263 shares during the period. CWM LLC grew its holdings in Brookfield Asset Management by 12.2% in the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock valued at $93,000 after buying an additional 267 shares during the period. Choate Investment Advisors increased its stake in shares of Brookfield Asset Management by 3.3% during the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 285 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the period. Finally, Foundations Investment Advisors LLC boosted its position in shares of Brookfield Asset Management by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 315 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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.