Jefferies Financial Group Begins Coverage on Brookfield Asset Management (NYSE:BAM)

Jefferies Financial Group began coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research report sent to investors on Friday, MarketBeat reports. The brokerage issued a hold rating and a $43.00 price objective on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. Royal Bank of Canada upped their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an outperform rating in a research note on Monday, April 29th. JPMorgan Chase & Co. upped their target price on Brookfield Asset Management from $41.00 to $42.00 and gave the company a neutral rating in a research report on Wednesday, July 31st. CIBC upped their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the company an outperformer rating in a research report on Friday, July 19th. StockNews.com raised Brookfield Asset Management from a sell rating to a hold rating in a research report on Tuesday, July 30th. Finally, Scotiabank upped their target price on Brookfield Asset Management from $44.50 to $46.00 and gave the company an outperform rating in a research report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $42.58.

Brookfield Asset Management Stock Down 2.9 %

Shares of NYSE BAM opened at $40.76 on Friday. The firm has a market cap of $18.09 billion, a PE ratio of 37.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57. Brookfield Asset Management has a twelve month low of $28.35 and a twelve month high of $44.38. The business has a fifty day simple moving average of $39.59 and a two-hundred day simple moving average of $40.12.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $884.00 million during the quarter. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. On average, research analysts expect that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.52 dividend on an annualized basis and a yield of 3.73%. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Brookfield Asset Management in the fourth quarter valued at approximately $239,421,000. FIL Ltd lifted its position in shares of Brookfield Asset Management by 66.1% in the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after acquiring an additional 4,501,410 shares in the last quarter. Beutel Goodman & Co Ltd. lifted its position in shares of Brookfield Asset Management by 114.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock valued at $279,387,000 after acquiring an additional 3,695,774 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Brookfield Asset Management by 29.2% in the fourth quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock valued at $464,078,000 after acquiring an additional 2,595,793 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of Brookfield Asset Management by 10.0% in the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after acquiring an additional 2,241,372 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

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.