The Goldman Sachs Group Issues Positive Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target lifted by The Goldman Sachs Group from $57.00 to $63.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on BAM. BMO Capital Markets raised their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Scotiabank boosted their price target on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Royal Bank of Canada upped their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Bank of America lifted their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $53.46.

Brookfield Asset Management Trading Down 0.2 %

Shares of BAM stock opened at $55.45 on Tuesday. The company has a market cap of $24.56 billion, a P/E ratio of 49.07, a PEG ratio of 2.29 and a beta of 1.42. The firm has a fifty day moving average price of $51.14 and a 200 day moving average price of $43.93. Brookfield Asset Management has a 12 month low of $33.45 and a 12 month high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm posted $0.35 EPS. On average, equities analysts forecast that Brookfield Asset Management will post 1.47 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after acquiring an additional 2,788,611 shares during the period. Mackenzie Financial Corp lifted its position in Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after purchasing an additional 2,205,040 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Brookfield Asset Management in the second quarter valued at about $42,160,000. TD Asset Management Inc increased its position in Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after purchasing an additional 1,066,015 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after buying an additional 784,250 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

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.