Shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) have earned an average rating of “Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $40.67.

Several equities analysts have recently issued reports on BAM shares. ValuEngine lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Royal Bank Of Canada boosted their target price on Brookfield Asset Management from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, May 12th. BidaskClub lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $45.00 target price on shares of Brookfield Asset Management in a research report on Friday, May 12th. Finally, TD Securities reissued a “buy” rating on shares of Brookfield Asset Management in a research report on Saturday, May 13th.

Brookfield Asset Management (NYSE BAM) traded up 0.18% on Friday, reaching $38.61. 141,531 shares of the company’s stock traded hands. The company has a market cap of $37.01 billion, a PE ratio of 30.96 and a beta of 1.04. Brookfield Asset Management has a 12 month low of $32.04 and a 12 month high of $40.09. The firm’s 50 day moving average price is $38.93 and its 200 day moving average price is $37.05.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Thursday, May 11th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.26. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Brookfield Asset Management had a return on equity of 2.12% and a net margin of 5.39%. Brookfield Asset Management’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. On average, equities analysts expect that Brookfield Asset Management will post $1.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Wednesday, May 31st were paid a dividend of $0.14 per share. The ex-dividend date was Friday, May 26th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.45%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 44.80%.

Brookfield Asset Management declared that its Board of Directors has initiated a share buyback plan on Friday, May 19th that authorizes the company to buyback 82,960,000 shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Brookfield Asset Management by 3.6% in the first quarter. Bank of Montreal Can now owns 37,833,475 shares of the financial services provider’s stock worth $1,379,408,000 after buying an additional 1,310,802 shares during the period. Principal Financial Group Inc. increased its position in Brookfield Asset Management by 0.7% in the first quarter. Principal Financial Group Inc. now owns 25,567,307 shares of the financial services provider’s stock valued at $932,179,000 after buying an additional 169,650 shares during the last quarter. TD Asset Management Inc. increased its position in Brookfield Asset Management by 3.3% in the first quarter. TD Asset Management Inc. now owns 21,209,434 shares of the financial services provider’s stock valued at $770,515,000 after buying an additional 673,510 shares during the last quarter. Vanguard Group Inc. increased its position in Brookfield Asset Management by 5.0% in the first quarter. Vanguard Group Inc. now owns 18,673,540 shares of the financial services provider’s stock valued at $680,837,000 after buying an additional 896,182 shares during the last quarter. Finally, First Manhattan Co. increased its position in Brookfield Asset Management by 2.8% in the first quarter. First Manhattan Co. now owns 17,365,695 shares of the financial services provider’s stock valued at $610,925,000 after buying an additional 469,331 shares during the last quarter. Institutional investors own 53.13% of the company’s stock.

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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.

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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