Brookfield Asset Management (NYSE:BAM) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a hold rating to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

A number of other research analysts have also commented on the company. National Bankshares cut their target price on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Royal Bank Of Canada set a $74.00 price target on shares of Brookfield Asset Management and gave the company an “outperform” rating in a report on Monday, December 15th. Loop Capital set a $60.00 price objective on shares of Brookfield Asset Management in a research note on Tuesday, January 6th. Scotiabank set a $64.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research report on Thursday. Finally, Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.33.

Brookfield Asset Management Stock Up 2.1%

BAM stock opened at $49.69 on Thursday. Brookfield Asset Management has a twelve month low of $41.78 and a twelve month high of $64.10. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The company has a market cap of $81.39 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.10 and a beta of 1.40. The business’s 50-day simple moving average is $52.41 and its 200 day simple moving average is $55.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%.The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. On average, research analysts anticipate that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a dividend of $0.5025 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 27th. This represents a $2.01 dividend on an annualized basis and a yield of 4.0%. Brookfield Asset Management’s dividend payout ratio is currently 109.38%.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors have recently bought and sold shares of BAM. New York State Common Retirement Fund increased its position in shares of Brookfield Asset Management by 18.5% in the 3rd quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock valued at $26,511,000 after buying an additional 72,600 shares in the last quarter. Intact Investment Management Inc. lifted its holdings in Brookfield Asset Management by 127.5% during the third quarter. Intact Investment Management Inc. now owns 590,560 shares of the financial services provider’s stock worth $33,612,000 after acquiring an additional 330,970 shares in the last quarter. Nicola Wealth Management LTD. lifted its holdings in Brookfield Asset Management by 115.4% during the third quarter. Nicola Wealth Management LTD. now owns 216,558 shares of the financial services provider’s stock worth $12,325,000 after acquiring an additional 116,000 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Brookfield Asset Management by 1.6% in the second quarter. Envestnet Asset Management Inc. now owns 430,081 shares of the financial services provider’s stock valued at $23,774,000 after acquiring an additional 6,728 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Brookfield Asset Management by 144.5% in the second quarter. Legal & General Group Plc now owns 80,632 shares of the financial services provider’s stock worth $4,456,000 after acquiring an additional 47,659 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.