Brookfield Asset Management (NYSE:BAM) Price Target Raised to $54.00 at Morgan Stanley

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target upped by Morgan Stanley from $50.00 to $54.00 in a research report released on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on BAM. Bank of America raised shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Thursday, April 10th. Wells Fargo & Company raised their price target on shares of Brookfield Asset Management from $48.00 to $54.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 7th. Jefferies Financial Group decreased their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. TD Securities raised their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.08.

Brookfield Asset Management Stock Up 0.3%

BAM opened at $59.72 on Friday. The firm has a market capitalization of $96.29 billion, a P/E ratio of 45.24, a P/E/G ratio of 1.92 and a beta of 1.56. The firm’s 50 day moving average is $50.62 and its 200-day moving average is $54.26. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. Equities analysts expect that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, May 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is 124.11%.

Hedge Funds Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tandem Capital Management Corp ADV boosted its holdings in shares of Brookfield Asset Management by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock valued at $2,119,000 after acquiring an additional 175 shares during the period. Kirr Marbach & Co. LLC IN boosted its holdings in shares of Brookfield Asset Management by 0.6% during the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider’s stock valued at $1,715,000 after acquiring an additional 203 shares during the period. Lincoln Capital LLC boosted its holdings in shares of Brookfield Asset Management by 0.9% during the first quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider’s stock valued at $1,145,000 after acquiring an additional 210 shares during the period. RE Dickinson Investment Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 3.2% during the fourth quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider’s stock valued at $377,000 after acquiring an additional 215 shares during the period. Finally, Focus Financial Network Inc. boosted its holdings in shares of Brookfield Asset Management by 5.2% during the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 218 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

About Brookfield Asset Management

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.