Brookfield Asset Management (NYSE:BAM – Free Report) (TSE:BAM.A) had its price objective lifted by BMO Capital Markets from $33.00 to $34.00 in a report published on Thursday, MarketBeat.com reports. BMO Capital Markets currently has a market perform rating on the financial services provider’s stock.
BAM has been the topic of several other research reports. Scotiabank began coverage on shares of Brookfield Asset Management in a research report on Thursday, July 13th. They set an outperform rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Brookfield Asset Management in a research note on Tuesday, May 30th. They set a hold rating for the company. Keefe, Bruyette & Woods lowered shares of Brookfield Asset Management to an underperform rating in a research note on Tuesday, April 18th. StockNews.com assumed coverage on shares of Brookfield Asset Management in a research note on Thursday, May 18th. They set a hold rating for the company. Finally, TD Securities decreased their price target on shares of Brookfield Asset Management from $48.00 to $47.00 and set an action list buy rating for the company in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Brookfield Asset Management presently has a consensus rating of Moderate Buy and an average price target of $39.00.
Get Our Latest Stock Analysis on Brookfield Asset Management
Brookfield Asset Management Stock Up 0.7 %
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last posted its earnings results on Wednesday, August 9th. The financial services provider reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $985.00 million for the quarter. Sell-side analysts forecast that Brookfield Asset Management will post 1.31 earnings per share for the current fiscal year.
Brookfield Asset Management Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.64%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Brookfield Asset Management by 74.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,855,654 shares of the financial services provider’s stock valued at $93,194,000 after purchasing an additional 1,214,601 shares in the last quarter. Credit Suisse AG grew its position in shares of Brookfield Asset Management by 2.9% during the 2nd quarter. Credit Suisse AG now owns 629,711 shares of the financial services provider’s stock valued at $20,547,000 after purchasing an additional 17,459 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Brookfield Asset Management by 327.3% during the 2nd quarter. Hsbc Holdings PLC now owns 435,386 shares of the financial services provider’s stock valued at $14,206,000 after purchasing an additional 333,501 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Brookfield Asset Management during the 2nd quarter valued at $2,867,000. Finally, Capital World Investors grew its position in shares of Brookfield Asset Management by 16.8% during the 2nd quarter. Capital World Investors now owns 18,250,067 shares of the financial services provider’s stock valued at $595,517,000 after purchasing an additional 2,625,505 shares in the last quarter. 57.29% of the stock is currently owned by hedge funds and other institutional investors.
Brookfield Asset Management Company Profile
Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.
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