Brookfield Asset Management Inc. (NYSE:BAM – Get Rating) (TSE:BAM.A) has been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $48.11.
Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Brookfield Asset Management from $52.00 to $44.00 and set a “hold” rating on the stock in a research note on Wednesday, October 12th. TD Securities boosted their price target on Brookfield Asset Management from $72.00 to $73.00 and gave the company an “action list buy” rating in a research note on Thursday, September 15th. The Goldman Sachs Group assumed coverage on Brookfield Asset Management in a research note on Tuesday, December 13th. They issued a “buy” rating and a $40.00 price target on the stock. BMO Capital Markets assumed coverage on Brookfield Asset Management in a research note on Tuesday, December 13th. They issued a “market perform” rating and a $32.00 price target on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Brookfield Asset Management in a research note on Tuesday, December 20th. They issued an “overweight” rating and a $35.00 price target on the stock.
Brookfield Asset Management Stock Performance
Shares of NYSE BAM opened at $28.04 on Friday. Brookfield Asset Management has a one year low of $26.76 and a one year high of $36.50. The business has a 50-day moving average price of $39.88 and a two-hundred day moving average price of $44.31.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last released its quarterly earnings data on Thursday, November 10th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. The firm had revenue of $23.42 billion for the quarter. As a group, analysts anticipate that Brookfield Asset Management will post 1.18 earnings per share for the current year.
Brookfield Asset Management Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, November 30th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Tuesday, November 29th.
Insider Transactions at Brookfield Asset Management
In other news, insider Brookfield Asset Management In sold 2,135,176 shares of the business’s stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $24.09, for a total transaction of $51,436,389.84. Following the completion of the sale, the insider now owns 13,281,712 shares in the company, valued at $319,956,442.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Brookfield Asset Management In sold 2,135,176 shares of the business’s stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $24.09, for a total transaction of $51,436,389.84. Following the completion of the sale, the insider now owns 13,281,712 shares in the company, valued at $319,956,442.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Oaktree Capital Management Lp sold 2,825,000 shares of the business’s stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $8.50, for a total value of $24,012,500.00. Following the sale, the insider now owns 7,797,000 shares of the company’s stock, valued at approximately $66,274,500. The disclosure for this sale can be found here. Insiders sold a total of 6,960,176 shares of company stock worth $94,048,890 over the last 90 days. 11.00% of the stock is owned by insiders.
Institutional Investors Weigh In On Brookfield Asset Management
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BAM. Goldman Sachs Group Inc. increased its holdings in Brookfield Asset Management by 166.2% in the first quarter. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider’s stock valued at $398,883,000 after purchasing an additional 4,402,115 shares during the last quarter. FMR LLC increased its holdings in Brookfield Asset Management by 23.4% in the second quarter. FMR LLC now owns 22,743,081 shares of the financial services provider’s stock valued at $1,011,608,000 after purchasing an additional 4,315,285 shares during the last quarter. Select Equity Group L.P. bought a new stake in Brookfield Asset Management in the first quarter valued at about $200,315,000. Principal Financial Group Inc. increased its holdings in Brookfield Asset Management by 5.6% in the second quarter. Principal Financial Group Inc. now owns 45,883,416 shares of the financial services provider’s stock valued at $2,039,978,000 after purchasing an additional 2,452,878 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Brookfield Asset Management by 449.1% in the third quarter. Canada Pension Plan Investment Board now owns 2,170,780 shares of the financial services provider’s stock valued at $89,277,000 after purchasing an additional 1,775,480 shares during the last quarter.
Brookfield Asset Management Company Profile
Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.
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