Brookfield Asset Management Inc. (BAM) Sees Unusually-High Trading Volume
Brookfield Asset Management Inc. (NYSE:BAM) shares saw unusually-high trading volume on Thursday . Approximately 1,113,511 shares changed hands during trading, an increase of 77% from the previous session’s volume of 630,812 shares.The stock last traded at $35.33 and had previously closed at $35.33.
BAM has been the topic of several research reports. Vetr upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating and set a $38.94 price objective on the stock in a research note on Monday, June 6th. Canaccord Genuity reiterated a “buy” rating and set a $38.00 price target on shares of Brookfield Asset Management in a research report on Friday. Credit Suisse Group AG reiterated a “hold” rating on shares of Brookfield Asset Management in a research report on Saturday, May 14th. Zacks Investment Research cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Finally, Keefe, Bruyette & Woods started coverage on Brookfield Asset Management in a research report on Tuesday, May 24th. They set an “outperform” rating and a $41.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $40.08.
The firm has a market capitalization of $33.53 billion and a price-to-earnings ratio of 19.81. The stock has a 50-day moving average price of $34.31 and a 200 day moving average price of $32.86.
Brookfield Asset Management (NYSE:BAM) last issued its quarterly earnings results on Friday, August 12th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.39. During the same period in the prior year, the business posted $0.65 earnings per share. The business earned $5.97 billion during the quarter, compared to analyst estimates of $4.78 billion. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts anticipate that Brookfield Asset Management Inc. will post $1.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.49%.
A number of large investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group purchased a new stake in Brookfield Asset Management during the fourth quarter worth $1,213,000. Cedar Hill Associates LLC purchased a new stake in Brookfield Asset Management during the fourth quarter worth $10,244,000. Finally, I.G. Investment Management LTD. increased its stake in Brookfield Asset Management by 2.1% in the fourth quarter. I.G. Investment Management LTD. now owns 5,390,264 shares of the company’s stock worth $170,128,000 after buying an additional 108,585 shares during the period.
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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