Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) had its target price cut by Citigroup Inc. from $50.00 to $49.50 in a research note issued to investors on Friday morning. They currently have a buy rating on the financial services provider’s stock.

Several other research firms also recently commented on BAM. Keefe, Bruyette & Woods reiterated a buy rating and issued a $45.00 price objective on shares of Brookfield Asset Management in a research note on Friday, July 14th. TD Securities upped their price objective on Brookfield Asset Management from $47.00 to $50.00 and gave the company a buy rating in a research note on Friday, August 11th. Scotiabank upped their price objective on Brookfield Asset Management from $41.75 to $42.50 and gave the company an outperform rating in a research note on Wednesday, August 9th. Royal Bank of Canada upped their price objective on Brookfield Asset Management from $42.00 to $43.00 and gave the company an outperform rating in a research note on Friday, August 11th. Finally, Canaccord Genuity reissued a buy rating and set a $42.00 target price on shares of Brookfield Asset Management in a report on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $47.00.

Shares of Brookfield Asset Management (BAM) traded down $0.02 during midday trading on Friday, hitting $42.02. The stock had a trading volume of 603,800 shares, compared to its average volume of 879,280. Brookfield Asset Management has a 12-month low of $32.04 and a 12-month high of $43.15. The stock has a market cap of $41,564.71, a P/E ratio of 93.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.31 and a quick ratio of 1.02.

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 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.28). Brookfield Asset Management had a net margin of 1.70% and a return on equity of 0.87%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $5.27 billion. During the same quarter in the previous year, the company posted $0.15 EPS. Brookfield Asset Management’s revenue for the quarter was up 58.1% on a year-over-year basis.

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The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.33%. Brookfield Asset Management’s payout ratio is currently 124.45%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BAM. Ameriprise Financial Inc. increased its stake in Brookfield Asset Management by 3.2% in the first quarter. Ameriprise Financial Inc. now owns 22,198 shares of the financial services provider’s stock valued at $810,000 after acquiring an additional 689 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Brookfield Asset Management by 18.7% during the first quarter. Dimensional Fund Advisors LP now owns 15,924 shares of the financial services provider’s stock valued at $581,000 after buying an additional 2,507 shares during the period. Fisher Asset Management LLC boosted its position in Brookfield Asset Management by 4.7% during the second quarter. Fisher Asset Management LLC now owns 6,163 shares of the financial services provider’s stock valued at $242,000 after buying an additional 277 shares during the period. Mn Services Vermogensbeheer B.V. purchased a new stake in Brookfield Asset Management during the second quarter valued at about $5,715,000. Finally, Marathon Asset Management LLP boosted its position in Brookfield Asset Management by 9.4% during the second quarter. Marathon Asset Management LLP now owns 2,546,995 shares of the financial services provider’s stock valued at $99,802,000 after buying an additional 218,741 shares during the period. 52.19% of the stock is currently owned by institutional investors and hedge funds.

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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