Shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) have been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $47.00.
BAM has been the topic of a number of research reports. Royal Bank of Canada reissued an “outperform” rating on shares of Brookfield Asset Management in a report on Thursday, September 28th. ValuEngine cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. Canaccord Genuity reissued a “buy” rating and set a $47.00 price objective on shares of Brookfield Asset Management in a report on Monday, October 2nd. Scotiabank raised their price objective on Brookfield Asset Management from $42.75 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, October 11th. Finally, Citigroup decreased their price objective on Brookfield Asset Management from $50.00 to $49.50 and set a “buy” rating on the stock in a report on Friday, November 10th.
Shares of Brookfield Asset Management (NYSE:BAM) traded down $0.37 during midday trading on Friday, hitting $42.38. The company had a trading volume of 1,151,193 shares, compared to its average volume of 1,067,043. The stock has a market cap of $41,980.00, a PE ratio of 92.13 and a beta of 1.05. The company has a current ratio of 1.29, a quick ratio of 1.01 and a debt-to-equity ratio of 0.92. Brookfield Asset Management has a 52 week low of $34.09 and a 52 week high of $44.33.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, November 9th. The financial services provider reported $0.20 earnings per share for the quarter. The company had revenue of $15.40 billion for the quarter. Brookfield Asset Management had a return on equity of 0.86% and a net margin of 1.70%.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Thursday, November 30th were paid a $0.18 dividend. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.14. This represents a $0.72 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Wednesday, November 29th. Brookfield Asset Management’s payout ratio is 121.74%.
Institutional investors have recently made changes to their positions in the business. QS Investors LLC increased its stake in Brookfield Asset Management by 69.8% in the 2nd quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 1,150 shares during the period. Veritas Investment Management UK Ltd purchased a new position in Brookfield Asset Management in the 3rd quarter worth approximately $149,000. Atlantic Trust LLC purchased a new position in Brookfield Asset Management in the 2nd quarter worth approximately $191,000. Cortland Associates Inc. MO purchased a new position in Brookfield Asset Management in the 3rd quarter worth approximately $209,000. Finally, Harbour Capital Advisors LLC purchased a new position in Brookfield Asset Management in the 3rd quarter worth approximately $244,000. 54.05% of the stock is currently owned by institutional investors and hedge funds.
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About Brookfield Asset Management
Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.
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