Credit Suisse Group AG Analysts Give Brookfield Asset Management Inc. (BAM) a $36.00 Price Target
Credit Suisse Group AG set a $36.00 target price on Brookfield Asset Management Inc. (NYSE:BAM) in a research report report published on Thursday morning. The firm currently has a a hold rating on the stock.
BAM has been the topic of several other reports. Vetr upgraded Brookfield Asset Management from a buy rating to a strong-buy rating and set a $38.94 price target on the stock in a report on Monday, June 13th. Canaccord Genuity restated a buy rating and set a $38.00 price target on shares of Brookfield Asset Management in a report on Friday, August 12th. Zacks Investment Research cut Brookfield Asset Management from a buy rating to a hold rating in a report on Tuesday, July 12th. TD Securities restated a buy rating and set a $46.00 price target (up from $44.00) on shares of Brookfield Asset Management in a report on Tuesday, August 16th. Finally, Royal Bank Of Canada upgraded Brookfield Asset Management from an outperform rating to a top pick rating and set a $41.00 price target on the stock in a report on Thursday, September 22nd. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. Brookfield Asset Management presently has an average rating of Buy and a consensus price target of $40.07.
Shares of Brookfield Asset Management (NYSE:BAM) opened at 35.29 on Thursday. The firm’s 50-day moving average is $34.30 and its 200 day moving average is $34.00. The firm has a market capitalization of $33.84 billion, a P/E ratio of 27.29 and a beta of 0.96. Brookfield Asset Management has a one year low of $25.72 and a one year high of $35.98.
Brookfield Asset Management (NYSE:BAM) last issued its earnings results on Friday, August 12th. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.39. The firm earned $5.97 billion during the quarter, compared to the consensus estimate of $4.78 billion. Brookfield Asset Management had a return on equity of 2.54% and a net margin of 6.47%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Equities research analysts predict that Brookfield Asset Management will post $0.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, August 29th. Brookfield Asset Management’s payout ratio is 39.39%.
Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in 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. boosted its position in 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. acquired a new position in Brookfield Asset Management during the second quarter worth about $143,000. FineMark National Bank & Trust boosted its position in 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 acquired a new position in Brookfield Asset Management during the second quarter worth about $207,000. Hedge funds and other institutional investors own 53.31% of the company’s stock.
Brookfield Asset Management Company Profile
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.
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