Brookfield Asset Management (BAM) Given New $63.00 Price Target at TD Securities

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective boosted by TD Securities from $62.00 to $63.00 in a report published on Friday, BayStreet.CA reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other research analysts have also commented on the company. BMO Capital Markets reaffirmed a buy rating on shares of Brookfield Asset Management in a research report on Friday, April 5th. Royal Bank of Canada increased their target price on Brookfield Asset Management from $47.00 to $48.00 and gave the stock an outperform rating in a research report on Tuesday, February 19th. Six investment analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and a consensus price target of $52.92.

BAM opened at $47.31 on Friday. The company has a market cap of $47.57 billion, a price-to-earnings ratio of 14.56 and a beta of 1.17. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.30 and a quick ratio of 1.08. Brookfield Asset Management has a one year low of $36.58 and a one year high of $48.43.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Thursday, May 9th. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $15.21 billion during the quarter, compared to analyst estimates of $12.35 billion. Brookfield Asset Management had a return on equity of 3.98% and a net margin of 5.63%. During the same quarter in the prior year, the company posted $1.16 EPS.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.35%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.15.

Several large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Brookfield Asset Management by 2.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,502 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 279 shares in the last quarter. Advisor Partners LLC grew its stake in shares of Brookfield Asset Management by 4.0% in the 1st quarter. Advisor Partners LLC now owns 7,272 shares of the financial services provider’s stock worth $339,000 after buying an additional 279 shares during the last quarter. Lourd Capital LLC grew its stake in shares of Brookfield Asset Management by 5.0% in the 4th quarter. Lourd Capital LLC now owns 5,939 shares of the financial services provider’s stock worth $228,000 after buying an additional 282 shares during the last quarter. First Personal Financial Services grew its stake in shares of Brookfield Asset Management by 9.4% in the 4th quarter. First Personal Financial Services now owns 3,417 shares of the financial services provider’s stock worth $131,000 after buying an additional 293 shares during the last quarter. Finally, Cortland Associates Inc. MO grew its stake in shares of Brookfield Asset Management by 6.2% in the 4th quarter. Cortland Associates Inc. MO now owns 5,377 shares of the financial services provider’s stock worth $206,000 after buying an additional 315 shares during the last quarter. 62.15% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Asset Management

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

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