Royal Bank Of Canada upgraded shares of Brookfield Asset Management Inc. (NYSE:BAM) from an outperform rating to a top pick rating in a report issued on Thursday. They currently have $41.00 price target on the stock.

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

Several other analysts have also commented on the company. RBC Capital Markets raised Brookfield Asset Management from an outperform rating to a top pick rating and set a $41.00 price objective on the stock in a report on Wednesday. They noted that the move was a valuation call. TheStreet lowered Brookfield Asset Management from a buy rating to a hold rating in a report on Monday. TD Securities reissued a buy rating and issued a $46.00 price objective (up from $44.00) on shares of Brookfield Asset Management in a report on Tuesday, August 16th. Canaccord Genuity reissued a buy rating and issued a $38.00 price objective on shares of Brookfield Asset Management in a report on Friday, August 12th. Finally, Vetr raised Brookfield Asset Management from a hold rating to a buy rating and set a $38.94 price objective on the stock in a report on Monday, June 6th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $39.53.

Brookfield Asset Management (NYSE:BAM) traded down 0.97% on Thursday, reaching $34.77. The company had a trading volume of 62,181 shares. Brookfield Asset Management has a 1-year low of $25.72 and a 1-year high of $35.63. The stock’s 50 day moving average is $34.10 and its 200-day moving average is $33.76. The stock has a market capitalization of $33.34 billion, a P/E ratio of 26.89 and a beta of 0.97.

Brookfield Asset Management (NYSE:BAM) last posted its earnings results on Friday, August 12th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.23 by $0.39. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $4.78 billion. Brookfield Asset Management had a return on equity of 2.54% and a net margin of 6.47%. During the same period last year, the company earned $0.65 earnings per share. Brookfield Asset Management’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities analysts predict that Brookfield Asset Management will post $0.93 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 31st will be given a dividend of $0.13 per share. The ex-dividend date is Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.48%. Brookfield Asset Management’s payout ratio is 39.39%.

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of Brookfield Asset Management by 1,570.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,274 shares of the company’s stock worth $108,000 after buying an additional 3,078 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Brookfield Asset Management by 43.3% in the second quarter. Hillsdale Investment Management Inc. now owns 4,200 shares of the company’s stock worth $138,000 after buying an additional 1,270 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new position in shares of Brookfield Asset Management during the second quarter worth approximately $143,000. FineMark National Bank & Trust increased its position in shares of Brookfield Asset Management by 63.1% in the second quarter. FineMark National Bank & Trust now owns 5,220 shares of the company’s stock worth $173,000 after buying an additional 2,019 shares during the last quarter. Finally, Fisher Asset Management LLC bought a new position in shares of Brookfield Asset Management during the second quarter worth approximately $207,000. Hedge funds and other institutional investors own 53.31% of the company’s stock.

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.

5 Day Chart for NYSE:BAM

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