TheStreet Lowers Brookfield Asset Management Inc (BAM) to C+
BAM has been the subject of a number of other reports. Royal Bank Of Canada reiterated a buy rating and set a $42.00 price objective on shares of Brookfield Asset Management in a report on Thursday, July 27th. Scotiabank boosted their price target on shares of Brookfield Asset Management from $42.75 to $56.00 and gave the stock an outperform rating in a report on Wednesday, October 11th. ValuEngine cut shares of Brookfield Asset Management from a buy rating to a hold rating in a report on Saturday, September 30th. Citigroup Inc. boosted their price target on shares of Brookfield Asset Management from $45.00 to $48.00 and gave the stock a buy rating in a report on Tuesday, August 15th. Finally, BidaskClub upgraded shares of Brookfield Asset Management from a sell rating to a hold rating in a report on Saturday, August 19th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Brookfield Asset Management presently has a consensus rating of Buy and a consensus price target of $47.00.
Brookfield Asset Management (BAM) opened at $41.41 on Thursday. The stock has a market cap of $40,840.00, a PE ratio of 91.91 and a beta of 1.06. Brookfield Asset Management has a twelve month low of $32.41 and a twelve month high of $43.15. The company has a current ratio of 1.29, a quick ratio of 1.01 and a debt-to-equity ratio of 0.92.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 1.74%. Brookfield Asset Management’s payout ratio is 121.74%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. QS Investors LLC boosted its stake in Brookfield Asset Management by 69.8% in the second quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 1,150 shares during the last quarter. Veritas Investment Management UK Ltd purchased a new position in Brookfield Asset Management in the third quarter valued at about $149,000. Atlantic Trust LLC purchased a new position in Brookfield Asset Management in the second quarter valued at about $191,000. Cortland Associates Inc. MO purchased a new position in Brookfield Asset Management in the third quarter valued at about $209,000. Finally, HM Payson & Co. purchased a new position in Brookfield Asset Management in the second quarter valued at about $203,000. Hedge funds and other institutional investors own 52.06% 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.
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