JPMorgan Chase & Co. Begins Coverage on Brookfield Asset Management (NYSE:BAM)

JPMorgan Chase & Co. initiated coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a report published on Wednesday, MarketBeat reports. The brokerage issued a neutral rating and a $41.00 price target on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on the company. Scotiabank decreased their price objective on Brookfield Asset Management from $47.00 to $44.50 and set a sector outperform rating for the company in a research note on Thursday, May 9th. HSBC cut shares of Brookfield Asset Management from a buy rating to a hold rating in a report on Thursday, February 1st. CIBC raised their price objective on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the company an outperform rating in a report on Monday, January 29th. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $34.00 to $36.00 and gave the stock a market perform rating in a research note on Thursday, February 8th. Finally, Royal Bank of Canada raised their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company an outperform rating in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has a consensus rating of Moderate Buy and a consensus price target of $42.14.

Brookfield Asset Management Trading Up 1.2 %

Shares of NYSE BAM opened at $40.43 on Wednesday. Brookfield Asset Management has a 12-month low of $28.35 and a 12-month high of $43.00. The stock has a market cap of $17.87 billion, a P/E ratio of 37.44, a PEG ratio of 1.81 and a beta of 1.71. The business’s fifty day simple moving average is $40.34 and its 200-day simple moving average is $38.65.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.52 dividend on an annualized basis and a yield of 3.76%. Brookfield Asset Management’s dividend payout ratio is presently 140.74%.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. acquired a new stake in Brookfield Asset Management during the 1st quarter worth $26,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after buying an additional 758 shares during the period. Quent Capital LLC grew its holdings in shares of Brookfield Asset Management by 62.4% during the first quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock worth $48,000 after buying an additional 435 shares during the last quarter. Signaturefd LLC increased its position in Brookfield Asset Management by 106.4% in the 3rd quarter. Signaturefd LLC now owns 1,482 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 764 shares during the period. Finally, Bfsg LLC purchased a new stake in Brookfield Asset Management during the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors 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.