Royal Bank Of Canada Reiterates “$65.00” Price Target for Brookfield Asset Management (NYSE:BAM)

Royal Bank Of Canada set a $65.00 price target on Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a report released on Friday morning,BayStreet reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on BAM. Scotiabank restated an “outperform” rating and issued a $59.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Morgan Stanley set a $56.00 price target on shares of Brookfield Asset Management and gave the company an “equal weight” rating in a report on Tuesday, July 21st. UBS Group boosted their price target on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Scotia upped their price objective on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Brookfield Asset Management in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $58.65.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $46.04 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $75.43 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.89 and a beta of 1.27. Brookfield Asset Management has a one year low of $42.20 and a one year high of $62.57. The business has a 50 day simple moving average of $49.82 and a 200 day simple moving average of $47.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, sell-side analysts forecast that Brookfield Asset Management will post 1.78 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.5025 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.4%. Brookfield Asset Management’s dividend payout ratio (DPR) is 116.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. raised its stake in shares of Brookfield Asset Management by 131.4% in the second quarter. Baird Financial Group Inc. now owns 45,809 shares of the financial services provider’s stock worth $2,054,000 after acquiring an additional 26,011 shares during the last quarter. Allworth Financial LP lifted its position in shares of Brookfield Asset Management by 16.0% during the second quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 408 shares in the last quarter. Waverly Advisors LLC grew its stake in shares of Brookfield Asset Management by 11.8% during the second quarter. Waverly Advisors LLC now owns 15,264 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 1,608 shares during the last quarter. Nykredit A S acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at approximately $2,689,000. Finally, HB Wealth Management LLC increased its holdings in shares of Brookfield Asset Management by 12.5% in the second quarter. HB Wealth Management LLC now owns 13,614 shares of the financial services provider’s stock valued at $611,000 after purchasing an additional 1,517 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management Ltd. is a global alternative asset manager that provides investment management services to institutional investors, governments, financial institutions and private-wealth clients. The company manages and invests capital on behalf of clients through a range of private and public investment strategies.

Its principal investment businesses include real estate, infrastructure, renewable power and transition, private equity, and credit. Brookfield seeks to invest in high-quality assets and businesses, often taking an active ownership and operating role.