Brookfield Asset Management Inc. (NYSE:BAM) was upgraded by RBC Capital Markets from an “outperform” rating to a “top pick” rating in a research note issued to investors on Wednesday, The Fly reports.

Several other equities analysts also recently commented on the stock. TheStreet downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Monday. Credit Suisse Group AG set a $36.00 target price on shares of Brookfield Asset Management and gave the stock a “hold” rating in a research report on Monday, August 22nd. TD Securities reissued a “buy” rating and set a $46.00 target price (up from $44.00) on shares of Brookfield Asset Management in a research report on Tuesday, August 16th. Canaccord Genuity reissued a “buy” rating and set a $38.00 target price on shares of Brookfield Asset Management in a research report on Friday, August 12th. Finally, Zacks Investment Research downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Brookfield Asset Management has a consensus rating of “Buy” and an average target price of $40.58.

Shares of Brookfield Asset Management (NYSE:BAM) traded up 1.08% during mid-day trading on Wednesday, reaching $33.72. The company had a trading volume of 683,083 shares. Brookfield Asset Management has a 52-week low of $25.72 and a 52-week high of $35.63. The company’s 50-day moving average price is $34.07 and its 200-day moving average price is $33.75. The company 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 posted its earnings results on Friday, August 12th. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.39. The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $4.78 billion. Brookfield Asset Management had a net margin of 6.47% and a return on equity of 2.54%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. On average, analysts forecast that Brookfield Asset Management will post $0.93 earnings per share for the current fiscal year.

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

Several large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new stake in Brookfield Asset Management during the second quarter valued at $1,134,262,000. FMR LLC boosted its stake in Brookfield Asset Management by 2.4% in the second quarter. FMR LLC now owns 24,845,103 shares of the company’s stock valued at $821,919,000 after buying an additional 575,182 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Brookfield Asset Management by 3.5% in the second quarter. Principal Financial Group Inc. now owns 22,670,314 shares of the company’s stock valued at $749,703,000 after buying an additional 764,884 shares during the last quarter. TD Asset Management Inc. boosted its stake in Brookfield Asset Management by 1.0% in the second quarter. TD Asset Management Inc. now owns 20,367,353 shares of the company’s stock valued at $670,286,000 after buying an additional 202,384 shares during the last quarter. Finally, First Manhattan Co. boosted its stake in Brookfield Asset Management by 0.7% in the second quarter. First Manhattan Co. now owns 17,662,333 shares of the company’s stock valued at $584,093,000 after buying an additional 124,326 shares during the last quarter. Institutional investors and hedge funds 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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