Brookfield Asset Management (BAM) Sets New 52-Week High at $47.66

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Shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) hit a new 52-week high during trading on Monday . The stock traded as high as $47.66 and last traded at $47.72, with a volume of 136217 shares. The stock had previously closed at $47.42.

Several analysts have recently commented on the company. BMO Capital Markets reissued a “buy” rating on shares of Brookfield Asset Management in a research note on Friday, April 5th. Royal Bank of Canada increased their price target on Brookfield Asset Management from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, February 19th. TD Securities increased their price target on Brookfield Asset Management from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, February 15th. Finally, Credit Suisse Group set a $50.00 price target on Brookfield Asset Management and gave the company a “buy” rating in a research report on Sunday, December 30th. Six analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $52.75.

The company has a quick ratio of 1.08, a current ratio of 1.30 and a debt-to-equity ratio of 1.20. The stock has a market cap of $45.33 billion, a P/E ratio of 13.70 and a beta of 1.18.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, February 14th. The financial services provider reported $1.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $1.72. The company had revenue of $16.01 billion during the quarter. Brookfield Asset Management had a return on equity of 4.36% and a net margin of 6.31%. The business’s revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.28 earnings per share.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC grew its holdings in Brookfield Asset Management by 199.5% during the first quarter. Valeo Financial Advisors LLC now owns 7,461 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 4,970 shares during the period. LGT Capital Partners LTD. grew its holdings in Brookfield Asset Management by 5.1% during the first quarter. LGT Capital Partners LTD. now owns 412,020 shares of the financial services provider’s stock valued at $19,203,000 after purchasing an additional 20,000 shares during the period. Fenimore Asset Management Inc. grew its holdings in Brookfield Asset Management by 0.3% during the first quarter. Fenimore Asset Management Inc. now owns 2,050,103 shares of the financial services provider’s stock valued at $95,637,000 after purchasing an additional 6,900 shares during the period. Heritage Investors Management Corp bought a new position in Brookfield Asset Management during the first quarter valued at $275,000. Finally, Hexavest Inc. bought a new position in Brookfield Asset Management during the first quarter valued at $14,323,000. 62.22% of the stock is owned by institutional investors and hedge funds.

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About Brookfield Asset Management (NYSE:BAM)

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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