TD Securities Boosts Brookfield Asset Management (BAM) Price Target to $55.00
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price upped by TD Securities from $54.00 to $55.00 in a research note issued to investors on Monday morning. The brokerage currently has a buy rating on the financial services provider’s stock.
Several other research firms have also weighed in on BAM. TheStreet lowered Brookfield Asset Management from a b- rating to a c+ rating in a research note on Thursday, January 25th. Royal Bank of Canada increased their target price on Brookfield Asset Management from $45.00 to $46.00 and gave the company an outperform rating in a research note on Friday, February 16th. Finally, Scotiabank increased their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the company an outperform rating in a research note on Friday, May 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $48.75.
Brookfield Asset Management opened at $40.32 on Monday, Marketbeat reports. Brookfield Asset Management has a 1-year low of $40.15 and a 1-year high of $40.89. The company has a current ratio of 1.19, a quick ratio of 0.93 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $40.15 billion, a price-to-earnings ratio of 17.99 and a beta of 1.02.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Thursday, May 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, May 30th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BAM. Creative Planning raised its position in shares of Brookfield Asset Management by 8.3% during the fourth quarter. Creative Planning now owns 37,340 shares of the financial services provider’s stock worth $1,626,000 after purchasing an additional 2,850 shares during the period. Marathon Asset Management LLP raised its position in shares of Brookfield Asset Management by 0.9% during the fourth quarter. Marathon Asset Management LLP now owns 3,176,770 shares of the financial services provider’s stock worth $138,757,000 after purchasing an additional 28,421 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $330,000. WoodTrust Financial Corp acquired a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $1,985,000. Finally, Rathbone Brothers plc raised its position in shares of Brookfield Asset Management by 18.2% during the fourth quarter. Rathbone Brothers plc now owns 16,939 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 2,613 shares during the period. 53.85% of the stock is currently owned by institutional investors.
Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.
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