Brookfield Asset Management (NYSE:BAM) Price Target Cut to $62.50 by Analysts at Scotiabank

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective trimmed by Scotiabank from $63.00 to $62.50 in a report published on Thursday morning, MarketBeat reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on BAM. BMO Capital Markets increased their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lowered their price objective on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a research report on Thursday. The Goldman Sachs Group lifted their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods lowered their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. Finally, CIBC boosted their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $56.71.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $57.60 on Thursday. The stock’s fifty day moving average is $56.41 and its two-hundred day moving average is $50.89. The firm has a market capitalization of $25.52 billion, a P/E ratio of 50.97, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46. Brookfield Asset Management has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. As a group, sell-side analysts forecast that Brookfield Asset Management will post 1.45 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.4375 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 annualized dividend and a dividend yield of 3.04%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Institutional Investors Weigh In On Brookfield Asset Management

Several large investors have recently added to or reduced their stakes in BAM. Truvestments Capital LLC boosted its position in Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after buying an additional 419 shares during the period. Hara Capital LLC purchased a new position in Brookfield Asset Management in the third quarter valued at $27,000. RPg Family Wealth Advisory LLC acquired a new position in Brookfield Asset Management during the 3rd quarter worth $27,000. Mountain Hill Investment Partners Corp. purchased a new stake in Brookfield Asset Management during the 4th quarter worth about $32,000. Finally, Versant Capital Management Inc raised its position in Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

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.