Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) has been given an average rating of “Buy” by the eleven analysts that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $43.56.

BAM has been the topic of a number of research reports. BidaskClub raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. ValuEngine downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $42.00 price target on shares of Brookfield Asset Management in a report on Tuesday, June 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $45.00 price target on shares of Brookfield Asset Management in a report on Friday, July 14th. Finally, Citigroup Inc. lifted their price target on shares of Brookfield Asset Management from $45.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, August 15th.

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Large investors have recently modified their holdings of the business. Principal Financial Group Inc. raised its position in shares of Brookfield Asset Management by 0.7% during 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. FMR LLC raised its position in shares of Brookfield Asset Management by 18.9% during the second quarter. FMR LLC now owns 25,066,960 shares of the financial services provider’s stock valued at $983,697,000 after buying an additional 3,980,816 shares during the last quarter. TD Asset Management Inc. raised its position in shares of Brookfield Asset Management by 2.4% during the second quarter. TD Asset Management Inc. now owns 21,728,082 shares of the financial services provider’s stock valued at $851,423,000 after buying an additional 518,648 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Brookfield Asset Management by 5.0% during 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. raised its position in shares of Brookfield Asset Management by 2.3% during the second quarter. First Manhattan Co. now owns 16,439,611 shares of the financial services provider’s stock valued at $644,597,000 after buying an additional 363,367 shares during the last quarter. 53.81% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management (NYSE BAM) traded up 0.61% during mid-day trading on Friday, hitting $39.44. 606,121 shares of the stock traded hands. The stock has a market cap of $37.81 billion, a price-to-earnings ratio of 30.60 and a beta of 1.03. Brookfield Asset Management has a 1-year low of $32.04 and a 1-year high of $40.09. The company’s 50 day moving average price is $39.02 and its 200-day moving average price is $37.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Thursday, August 10th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.28). The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $5.27 billion. Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The business’s quarterly revenue was up 58.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. Analysts predict that Brookfield Asset Management will post $1.18 earnings per share for the current year.

Brookfield Asset Management declared that its Board of Directors has authorized a stock repurchase plan on Friday, May 19th that permits the company to buyback 82,960,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.42%. The ex-dividend date is Tuesday, August 29th. Brookfield Asset Management’s dividend payout ratio is currently 43.75%.

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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