Published On: Fri, Sep 23rd, 2016

Brookfield Asset Management Inc. (BAM) Stock Rating Upgraded by Royal Bank Of Canada

Brookfield Asset Management Inc. (NYSE:BAM) was upgraded by research analysts at Royal Bank Of Canada from an “outperform” rating to a “top pick” rating in a research note issued to investors on Thursday. The firm presently has a $41.00 target price on the stock. Royal Bank Of Canada’s target price points to a potential upside of 16.78% from the stock’s previous close.
A number of other research analysts have also weighed in on the stock. RBC Capital Markets raised shares of Brookfield Asset Management from an “outperform” rating to a “top pick” rating and set a $41.00 price objective on the stock in a research note on Wednesday. They noted that the move was a valuation call. TheStreet lowered shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Monday. TD Securities reissued a “buy” rating and set a $46.00 price target (up from $44.00) on shares of Brookfield Asset Management in a research report on Tuesday, August 16th. Canaccord Genuity reissued a “buy” rating and set a $38.00 price target on shares of Brookfield Asset Management in a research report on Friday, August 12th. Finally, Vetr raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating and set a $38.94 price target on the stock in a research report on Monday, June 6th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $39.53.

Shares of Brookfield Asset Management (NYSE:BAM) traded up 4.12% during midday trading on Thursday, reaching $35.11. 1,975,415 shares of the company’s stock traded hands. The stock has a 50 day moving average of $34.10 and a 200-day moving average of $33.76. Brookfield Asset Management has a 12 month low of $25.72 and a 12 month high of $35.63. The stock has a market cap of $33.67 billion, a P/E ratio of 27.15 and a beta of 0.97.

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Brookfield Asset Management (NYSE:BAM) last released its quarterly earnings data on Friday, August 12th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.39. Brookfield Asset Management had a net margin of 6.47% and a return on equity of 2.54%. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the firm earned $0.65 earnings per share. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts forecast that Brookfield Asset Management will post $0.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.48%. Brookfield Asset Management’s payout ratio is 39.39%.
Several institutional investors have recently bought and sold shares of the company. Third Avenue Management LLC increased its position in Brookfield Asset Management by 9.6% in the first quarter. Third Avenue Management LLC now owns 4,737,134 shares of the company’s stock valued at $164,805,000 after buying an additional 413,494 shares during the last quarter. 1832 Asset Management L.P. increased its position in Brookfield Asset Management by 0.5% in the first quarter. 1832 Asset Management L.P. now owns 7,692,954 shares of the company’s stock valued at $431,689,000 after buying an additional 37,308 shares during the last quarter. Motley Fool Wealth Management LLC increased its position in Brookfield Asset Management by 10.3% in the first quarter. Motley Fool Wealth Management LLC now owns 108,738 shares of the company’s stock valued at $3,783,000 after buying an additional 10,133 shares during the last quarter. Aviva PLC increased its position in Brookfield Asset Management by 1.6% in the first quarter. Aviva PLC now owns 469,274 shares of the company’s stock valued at $16,344,000 after buying an additional 7,421 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its position in Brookfield Asset Management by 17,173.8% in the first quarter. Burgundy Asset Management Ltd. now owns 5,052,587 shares of the company’s stock valued at $175,950,000 after buying an additional 5,023,337 shares during the last quarter. Hedge funds and other institutional investors own 53.31% of the company’s stock.
Brookfield Asset Management Company Profile
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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