Brokerages Set Brookfield Asset Management Inc (BAM) PT at $51.75

Shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) have been assigned an average rating of “Buy” from the seven research firms that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $51.75.

Several research firms have recently weighed in on BAM. BMO Capital Markets began coverage on Brookfield Asset Management in a report on Thursday, September 20th. They issued an “outperform” rating and a $54.00 target price for the company. Scotiabank set a $53.00 target price on Brookfield Asset Management and gave the company a “buy” rating in a report on Thursday, October 18th. Credit Suisse Group raised Brookfield Asset Management from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $44.00 to $50.00 in a report on Friday, November 9th. TD Securities boosted their target price on Brookfield Asset Management from $56.00 to $57.00 and gave the company a “buy” rating in a report on Friday, November 9th. Finally, Citigroup began coverage on Brookfield Asset Management in a report on Tuesday, November 13th. They issued a “buy” rating and a $49.50 target price for the company.

Shares of Brookfield Asset Management stock traded down $0.01 on Friday, hitting $40.68. The stock had a trading volume of 826,396 shares, compared to its average volume of 1,333,762. Brookfield Asset Management has a 52-week low of $36.58 and a 52-week high of $45.04. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.26. The company has a market capitalization of $40.53 billion, a P/E ratio of 15.75 and a beta of 1.13.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Thursday, November 8th. The financial services provider reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.21). Brookfield Asset Management had a net margin of 5.10% and a return on equity of 3.52%. The firm had revenue of $14.86 billion during the quarter. During the same period in the prior year, the firm earned $0.79 earnings per share. The business’s revenue was up 21.0% on a year-over-year basis.

The business also recently declared a quarterly dividend, which was paid on Monday, December 31st. Investors of record on Friday, November 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.47%. The ex-dividend date was Thursday, November 29th.

A number of hedge funds have recently modified their holdings of BAM. US Bancorp DE increased its position in Brookfield Asset Management by 11.4% in the 2nd quarter. US Bancorp DE now owns 30,036 shares of the financial services provider’s stock valued at $1,218,000 after acquiring an additional 3,077 shares during the period. GSA Capital Partners LLP increased its position in Brookfield Asset Management by 63.4% in the 2nd quarter. GSA Capital Partners LLP now owns 16,770 shares of the financial services provider’s stock valued at $680,000 after acquiring an additional 6,506 shares during the period. BlackRock Inc. increased its position in Brookfield Asset Management by 4,333.6% in the 2nd quarter. BlackRock Inc. now owns 39,902 shares of the financial services provider’s stock valued at $1,617,000 after acquiring an additional 39,002 shares during the period. Dimensional Fund Advisors LP increased its position in Brookfield Asset Management by 123.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 100,951 shares of the financial services provider’s stock valued at $4,093,000 after acquiring an additional 55,705 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in Brookfield Asset Management by 19.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 14,467 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 2,312 shares during the period. Hedge funds and other institutional investors own 60.73% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.

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