Morgan Stanley Cuts Brookfield Asset Management (NYSE:BAM) Price Target to $50.00

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

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company reduced their price target on Brookfield Asset Management from $50.00 to $48.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Jefferies Financial Group dropped their price objective on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. Finally, TD Securities boosted their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.15.

Brookfield Asset Management Trading Down 1.3 %

Shares of NYSE BAM opened at $48.10 on Monday. The firm has a fifty day simple moving average of $51.32 and a two-hundred day simple moving average of $53.56. Brookfield Asset Management has a 12 month low of $37.29 and a 12 month high of $62.61. The firm has a market capitalization of $78.75 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, sell-side analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.64%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is currently 132.58%.

Institutional Trading of Brookfield Asset Management

Large investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Brookfield Asset Management by 2.3% in the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock worth $1,064,983,000 after purchasing an additional 447,642 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Brookfield Asset Management by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after acquiring an additional 263,660 shares during the period. TD Asset Management Inc. grew its holdings in shares of 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 worth $903,323,000 after acquiring an additional 1,359,126 shares during the period. Capital International Investors increased its position in Brookfield Asset Management by 0.7% during the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock valued at $873,354,000 after acquiring an additional 116,008 shares during the last quarter. Finally, FIL Ltd lifted its holdings in Brookfield Asset Management by 3.9% in the fourth quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock valued at $833,581,000 after acquiring an additional 574,978 shares during the period. 68.41% of the stock is currently owned by institutional investors.

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.