Brookfield Asset Management (NYSE:BAM) Price Target Cut to $50.00 by Analysts at Wells Fargo & Company

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target lowered by Wells Fargo & Company from $54.00 to $50.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the financial services provider’s stock.

BAM has been the topic of a number of other research reports. UBS Group began coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. CIBC increased their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. BMO Capital Markets increased their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods reduced their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $49.35 on Thursday. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61. The company has a market capitalization of $21.87 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. The business’s fifty day moving average is $55.23 and its 200 day moving average is $53.13.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, sell-side analysts forecast that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.4375 dividend. The ex-dividend date is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.55%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

Institutional Trading of Brookfield Asset Management

Several institutional investors and hedge funds have recently bought and sold shares of BAM. RPg Family Wealth Advisory LLC purchased a new stake in Brookfield Asset Management in the third quarter worth about $27,000. Truvestments Capital LLC lifted its holdings in Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after buying an additional 419 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in Brookfield Asset Management in the fourth quarter worth about $32,000. Versant Capital Management Inc lifted its holdings in Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after buying an additional 771 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after buying an additional 325 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.