Brookfield Asset Management (NYSE:BAM) PT Raised to $56.00 at Citigroup

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective upped by Citigroup from $54.00 to $56.00 in a report released on Tuesday, BenzingaRatingsTable reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. TD Securities dropped their price objective on Total Energy Services from C$11.50 to C$10.00 and set a hold rating on the stock in a research note on Friday, May 10th. BMO Capital Markets reiterated a buy rating on shares of Brookfield Asset Management in a research note on Friday, April 5th. 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 $54.00.

Brookfield Asset Management stock opened at $49.17 on Tuesday. Brookfield Asset Management has a 12 month low of $36.58 and a 12 month high of $49.19. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18. The firm has a 50 day moving average price of $47.60. The stock has a market capitalization of $48.94 billion, a P/E ratio of 15.35 and a beta of 1.11.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Thursday, May 9th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. Brookfield Asset Management had a return on equity of 3.86% and a net margin of 5.63%. The business had revenue of $15.21 billion for the quarter, compared to the consensus estimate of $12.35 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share.

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were given a dividend of $0.16 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.30%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.15.

In other Brookfield Asset Management news, Director Brookfield Asset Management In sold 1,900,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $23.75, for a total transaction of $45,125,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Several large investors have recently bought and sold shares of BAM. Lenox Wealth Management Inc. lifted its position in shares of Brookfield Asset Management by 862.1% during the first quarter. Lenox Wealth Management Inc. now owns 558 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 500 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in shares of Brookfield Asset Management during the first quarter worth $27,000. YorkBridge Wealth Partners LLC lifted its position in shares of Brookfield Asset Management by 116.0% during the fourth quarter. YorkBridge Wealth Partners LLC now owns 838 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 450 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in shares of Brookfield Asset Management by 86.9% during the first quarter. Carroll Financial Associates Inc. now owns 912 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 424 shares in the last quarter. Finally, Contravisory Investment Management Inc. lifted its position in shares of Brookfield Asset Management by 213.6% during the first quarter. Contravisory Investment Management Inc. now owns 1,411 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 961 shares in the last quarter. Hedge funds and other institutional investors own 61.23% of the company’s stock.

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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