Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) was the recipient of unusually large options trading on Thursday. Stock investors purchased 3,370 call options on the stock. This is an increase of approximately 5,517% compared to the typical volume of 60 call options.
A number of equities research analysts have recently weighed in on the company. Canaccord Genuity set a $62.00 target price on Brookfield Asset Management and gave the company a “buy” rating in a research note on Friday, September 27th. ValuEngine lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. BMO Capital Markets boosted their target price on Brookfield Asset Management from $55.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Royal Bank of Canada boosted their target price on Brookfield Asset Management from $54.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Finally, TD Securities boosted their target price on Brookfield Asset Management from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Brookfield Asset Management presently has a consensus rating of “Buy” and a consensus target price of $58.93.
BAM traded up $0.33 during midday trading on Friday, reaching $52.62. 1,402,672 shares of the company’s stock traded hands, compared to its average volume of 2,533,497. Brookfield Asset Management has a 52 week low of $36.58 and a 52 week high of $54.47. The firm has a fifty day moving average of $52.43 and a two-hundred day moving average of $49.14. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.11 and a quick ratio of 0.87. The stock has a market capitalization of $51.40 billion, a price-to-earnings ratio of 17.70 and a beta of 1.06.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Thursday, August 8th. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.25. Brookfield Asset Management had a return on equity of 3.31% and a net margin of 4.86%. The firm had revenue of $16.92 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The business’s revenue for the quarter was up 27.5% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 30th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%.
Hedge funds have recently bought and sold shares of the business. Alpine Group USVI LLC purchased a new stake in Brookfield Asset Management during the 3rd quarter valued at $11,455,000. We Are One Seven LLC bought a new position in Brookfield Asset Management in the 3rd quarter worth $228,000. Pure Financial Advisors Inc. bought a new position in Brookfield Asset Management in the 3rd quarter worth $202,000. Norman Fields Gottscho Capital Management LLC bought a new position in Brookfield Asset Management in the 3rd quarter worth $215,000. Finally, Addenda Capital Inc. increased its stake in Brookfield Asset Management by 3.2% in the 3rd quarter. Addenda Capital Inc. now owns 1,377,641 shares of the financial services provider’s stock worth $73,203,000 after buying an additional 42,380 shares in the last quarter. Hedge funds and other institutional investors own 60.87% of the company’s stock.
About Brookfield Asset Management
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.
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