Morgan Stanley Issues Pessimistic Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective reduced by Morgan Stanley from $62.00 to $50.00 in a report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. CIBC boosted their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank cut their price target on Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating on the stock in a report on Monday, April 7th. BMO Capital Markets boosted their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Bank of America raised Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Thursday, April 10th. Finally, Keefe, Bruyette & Woods cut their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.15.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $48.31 on Monday. Brookfield Asset Management has a 12 month low of $37.29 and a 12 month high of $62.61. The stock’s 50-day moving average is $51.70 and its 200-day moving average is $53.63. The company has a market cap of $79.10 billion, a price-to-earnings ratio of 36.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63.

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

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were given a $0.4375 dividend. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.58%.

Hedge Funds Weigh In On Brookfield Asset Management

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after purchasing an additional 168,170 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Brookfield Asset Management by 3.7% in the fourth quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock valued at $518,655,000 after purchasing an additional 339,072 shares in the last quarter. TD Asset Management Inc. boosted its holdings in Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock valued at $903,323,000 after acquiring an additional 1,359,126 shares during the last quarter. American Century Companies Inc. grew its holdings in Brookfield Asset Management by 30.5% during the 4th quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider’s stock worth $4,033,000 after acquiring an additional 17,369 shares during the period. Finally, Laffer Tengler Investments Inc. lifted its stake in Brookfield Asset Management by 24.2% in the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock valued at $8,008,000 after buying an additional 28,768 shares during the period. Institutional investors and hedge funds 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.