Brookfield Asset Management Inc. (BAM) Trading 1% Higher
Brookfield Asset Management Inc. (NYSE:BAM) traded up 1% on Tuesday . The stock traded as high as $33.91 and last traded at $33.62, with a volume of 597,796 shares. The stock had previously closed at $33.28.
Several equities research analysts have recently weighed in on the stock. Vetr upgraded shares of Brookfield Asset Management from a “buy” rating to a “strong-buy” rating and set a $38.94 target price for the company in a research note on Monday, June 13th. Keefe, Bruyette & Woods assumed coverage on shares of Brookfield Asset Management in a research note on Tuesday, May 24th. They set an “outperform” rating and a $41.00 target price for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $53.00 target price (up previously from $52.00) on shares of Brookfield Asset Management in a research note on Tuesday, May 17th. Credit Suisse Group AG reiterated a “hold” rating on shares of Brookfield Asset Management in a research note on Saturday, May 14th. Finally, Canaccord Genuity reissued a “buy” rating and set a $36.00 price target on shares of Brookfield Asset Management in a report on Friday, May 13th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Brookfield Asset Management currently has an average rating of “Buy” and a consensus price target of $39.88.
The stock has a 50 day moving average price of $33.89 and a 200 day moving average price of $31.90. The stock has a market cap of $32.35 billion and a PE ratio of 19.11.
Brookfield Asset Management (NYSE:BAM) last posted its earnings results on Friday, May 13th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.42. During the same period in the previous year, the firm earned $0.82 earnings per share. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.54 billion. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. Equities research analysts forecast that Brookfield Asset Management Inc. will post $1.24 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Thursday, May 26th.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Callahan Advisors LLC raised its position in Brookfield Asset Management by 4.1% in the fourth quarter. Callahan Advisors LLC now owns 203,402 shares of the company’s stock worth $6,413,000 after buying an additional 8,052 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Brookfield Asset Management by 1.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 395,145 shares of the company’s stock worth $12,460,000 after buying an additional 3,728 shares during the period. Cedar Hill Associates LLC bought a new stake in Brookfield Asset Management during the fourth quarter worth approximately $10,244,000. America First Investment Advisors LLC increased its stake in Brookfield Asset Management by 1.5% in the fourth quarter. America First Investment Advisors LLC now owns 270,390 shares of the company’s stock worth $8,525,000 after buying an additional 4,070 shares during the period. Finally, Bank of Montreal Can increased its stake in Brookfield Asset Management by 2.1% in the fourth quarter. Bank of Montreal Can now owns 29,964,495 shares of the company’s stock worth $944,782,000 after buying an additional 630,595 shares during the period.
Brookfield Asset Management Inc (Brookfield) is a global alternative asset manager. The Company owns and operates assets with a focus on property, renewable energy, infrastructure and private equity. The Company operates in eight segments: Asset Management, property, renewable energy, infrastructure, private equity, residential development, service activities and corporate activities.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.