Brookfield Asset Management Inc. (NYSE:BAM) was upgraded by investment analysts at RBC Capital Markets from an “outperform” rating to a “top pick” rating in a report released on Wednesday. The brokerage currently has a $41.00 price target on the stock. RBC Capital Markets’ price target indicates a potential upside of 21.59% from the stock’s previous close. The analysts noted that the move was a valuation call.

Other research analysts have also issued research reports about the company. Vetr raised Brookfield Asset Management from a “hold” rating to a “buy” rating and set a $38.94 price target on the stock in a research note on Monday, June 6th. TD Securities reissued a “buy” rating and set a $46.00 price target (up previously from $44.00) on shares of Brookfield Asset Management in a research note on Tuesday, August 16th. Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 target price on shares of Brookfield Asset Management in a research report on Friday, August 12th. Zacks Investment Research lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, TheStreet lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.53.

Brookfield Asset Management (NYSE:BAM) opened at 33.72 on Wednesday. The stock’s 50 day moving average price is $34.07 and its 200 day moving average price is $33.75. Brookfield Asset Management has a 52-week low of $25.72 and a 52-week high of $35.63. The firm has a market capitalization of $32.34 billion, a PE ratio of 26.08 and a beta of 0.97.

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Brookfield Asset Management (NYSE:BAM) last issued its quarterly earnings results on Friday, August 12th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.39. Brookfield Asset Management had a return on equity of 2.54% and a net margin of 6.47%. The company had revenue of $5.97 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Analysts expect that Brookfield Asset Management will post $0.93 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.54%. Brookfield Asset Management’s dividend payout ratio is presently 39.39%.

Several hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can acquired a new stake in shares of Brookfield Asset Management during the second quarter valued at $1,134,262,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in shares of Brookfield Asset Management by 23.5% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,472,250 shares of the company’s stock valued at $105,664,000 after buying an additional 469,773 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Brookfield Asset Management by 4,241.7% in the first quarter. Acadian Asset Management LLC now owns 9,986 shares of the company’s stock valued at $347,000 after buying an additional 9,756 shares in the last quarter. Allen Investment Management LLC increased its stake in shares of Brookfield Asset Management by 13.2% in the first quarter. Allen Investment Management LLC now owns 25,458 shares of the company’s stock valued at $886,000 after buying an additional 2,969 shares in the last quarter. Finally, Addenda Capital Inc. increased its stake in shares of Brookfield Asset Management by 0.9% in the first quarter. Addenda Capital Inc. now owns 1,368,671 shares of the company’s stock valued at $47,797,000 after buying an additional 12,021 shares in the last quarter. Institutional investors own 53.31% of the company’s stock.

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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