Brookfield Asset Management Inc (NYSE:BAM) Receives Consensus Recommendation of “Buy” from Analysts

Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) has been given a consensus rating of “Buy” by the six analysts that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $52.70.

BAM has been the topic of a number of analyst reports. BMO Capital Markets reiterated a “buy” rating on shares of Brookfield Asset Management in a research note on Friday, April 5th. TD Securities boosted their price objective on Brookfield Asset Management from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, May 10th.

In other Brookfield Asset Management news, Director Brookfield Asset Management In sold 1,900,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $23.75, for a total value of $45,125,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kayne Anderson Capital Advisors LP lifted its position in shares of Brookfield Asset Management by 6.3% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 50,900 shares of the financial services provider’s stock valued at $1,951,000 after acquiring an additional 3,000 shares in the last quarter. Jane Street Group LLC increased its position in shares of Brookfield Asset Management by 22.6% in the 4th quarter. Jane Street Group LLC now owns 33,360 shares of the financial services provider’s stock valued at $1,279,000 after acquiring an additional 6,145 shares during the period. YorkBridge Wealth Partners LLC increased its position in shares of Brookfield Asset Management by 116.0% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 838 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 450 shares during the period. Waratah Capital Advisors Ltd. acquired a new position in shares of Brookfield Asset Management in the 1st quarter valued at $2,947,000. Finally, Norges Bank acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at $335,315,000. Institutional investors and hedge funds own 61.23% of the company’s stock.

Shares of NYSE BAM opened at $47.78 on Friday. Brookfield Asset Management has a one year low of $36.58 and a one year high of $48.74. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. The company’s fifty day moving average price is $47.28. The stock has a market cap of $47.25 billion, a PE ratio of 14.94 and a beta of 1.14.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, May 9th. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Brookfield Asset Management had a return on equity of 3.86% and a net margin of 5.63%. The firm had revenue of $15.21 billion for the quarter, compared to analysts’ expectations of $12.35 billion. During the same quarter in the prior year, the firm earned $1.16 EPS.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were paid a $0.16 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Thursday, May 30th.

Brookfield Asset Management Company Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

Further Reading: What strategies should day traders use to execute a trade?

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

Receive News & Ratings for Brookfield Asset Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management and related companies with MarketBeat.com's FREE daily email newsletter.