Brookfield Asset Management (NYSE:BAM) Upgraded at StockNews.com

StockNews.com upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

BAM has been the topic of several other reports. Royal Bank of Canada boosted their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Keefe, Bruyette & Woods upped their target price on Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price for the company. Wells Fargo & Company upped their price objective on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.46.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $55.47 on Thursday. The stock has a 50 day moving average price of $51.14 and a 200 day moving average price of $43.96. Brookfield Asset Management has a one year low of $33.45 and a one year high of $58.53. The stock has a market capitalization of $24.57 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 2.28 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the prior year, the firm earned $0.35 earnings per share. On average, analysts predict that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.74%. Brookfield Asset Management’s payout ratio is presently 134.51%.

Institutional Trading of Brookfield Asset Management

Hedge funds have recently made changes to their positions in the business. Hara Capital LLC acquired a new position in shares of Brookfield Asset Management in the third quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Brookfield Asset Management in the third quarter worth $27,000. Massmutual Trust Co. FSB ADV increased its position in shares of Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 385 shares during the period. Continuum Advisory LLC increased its position in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the period. Finally, Richardson Financial Services Inc. raised its stake in shares of Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 755 shares in the last quarter. Institutional investors and hedge funds 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.