Shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) have received a consensus recommendation of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $49.20.

Several research firms recently commented on BAM. Scotiabank boosted their price target on Brookfield Asset Management from $41.75 to $42.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. TD Securities boosted their price target on Brookfield Asset Management from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Canaccord Genuity reissued a “buy” rating and set a $42.00 price target on shares of Brookfield Asset Management in a research report on Friday, August 11th. ValuEngine lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. Finally, Citigroup Inc. boosted their price target on Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, August 15th.

Shares of Brookfield Asset Management (NYSE BAM) traded up 0.24% during mid-day trading on Wednesday, reaching $42.63. 414,728 shares of the company traded hands. Brookfield Asset Management has a 52-week low of $32.04 and a 52-week high of $42.68. The company has a market capitalization of $40.87 billion, a P/E ratio of 33.07 and a beta of 1.04. The firm’s 50 day moving average price is $40.48 and its 200-day moving average price is $38.75.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.28). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $5.27 billion. Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The business’s revenue was up 58.1% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. Equities analysts predict that Brookfield Asset Management will post $0.86 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, August 31st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Tuesday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 43.75%.

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Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of Brookfield Asset Management by 163.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,178,446 shares of the financial services provider’s stock valued at $46,209,000 after purchasing an additional 731,752 shares in the last quarter. Barometer Capital Management Inc. raised its position in shares of Brookfield Asset Management by 2,063.5% in the 2nd quarter. Barometer Capital Management Inc. now owns 506,258 shares of the financial services provider’s stock valued at $19,850,000 after purchasing an additional 482,858 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Brookfield Asset Management by 3.2% in the 1st quarter. Ameriprise Financial Inc. now owns 22,198 shares of the financial services provider’s stock valued at $810,000 after purchasing an additional 689 shares in the last quarter. Signaturefd LLC raised its position in shares of Brookfield Asset Management by 0.5% in the 1st quarter. Signaturefd LLC now owns 9,975 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 45 shares in the last quarter. Finally, D L Carlson Investment Group Inc. acquired a new position in shares of Brookfield Asset Management in the 2nd quarter valued at approximately $1,559,000. 55.42% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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