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Brookfield Asset Management Inc. (NYSE:BAM – Get Rating) (TSE:BAM.A) has received an average recommendation of “Buy” from the twelve research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $66.33.
Several equities research analysts have recently issued reports on the stock. Credit Suisse Group upgraded shares of Brookfield Asset Management from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $68.00 to $71.50 in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Brookfield Asset Management from $62.00 to $60.00 in a report on Friday. Citigroup raised their price objective on shares of Brookfield Asset Management from $61.00 to $65.50 in a report on Friday, February 11th. Zacks Investment Research raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Monday, May 9th. Finally, Royal Bank of Canada cut their price objective on shares of Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Friday.
Shares of BAM stock opened at $47.71 on Friday. The company has a 50 day moving average of $53.50 and a 200-day moving average of $56.03. Brookfield Asset Management has a 12-month low of $44.13 and a 12-month high of $62.47. The firm has a market cap of $78.31 billion, a P/E ratio of 19.96 and a beta of 1.31.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, May 12th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.11. Brookfield Asset Management had a net margin of 5.24% and a return on equity of 3.21%. The company had revenue of $21.88 billion during the quarter, compared to analyst estimates of $18.35 billion. During the same quarter last year, the business posted $1.80 EPS. Equities research analysts anticipate that Brookfield Asset Management will post 3.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, May 27th. Brookfield Asset Management’s payout ratio is 23.43%.
In other news, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the firm’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $31.00, for a total transaction of $18,157,785.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Brookfield Asset Management In sold 5,925 shares of the firm’s stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $32.13, for a total transaction of $190,370.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,976,384 shares of company stock valued at $105,795,602.
Institutional investors have recently bought and sold shares of the company. Disciplined Investments LLC purchased a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $26,000. Strategic Asset Management LLC raised its position in Brookfield Asset Management by 121.5% in the 4th quarter. Strategic Asset Management LLC now owns 443 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 243 shares during the period. GoalVest Advisory LLC purchased a new position in Brookfield Asset Management in the 1st quarter worth $28,000. Benjamin F. Edwards & Company Inc. purchased a new position in Brookfield Asset Management in the 4th quarter worth $38,000. Finally, Massmutual Trust Co. FSB ADV raised its position in Brookfield Asset Management by 46.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 60.24% of the company’s stock.
About Brookfield Asset Management (Get Rating)
Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.
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