Brookfield Asset Management (NYSE:BAM) Stock Rating Upgraded by HSBC

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by equities research analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued on Friday, Marketbeat.com reports.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada raised their price target on shares of 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 reduced their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. TD Securities raised their price target on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Finally, Wells Fargo & Company reduced their price target on shares of Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a report on Thursday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Up 4.0 %

Shares of NYSE BAM opened at $59.86 on Friday. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $62.61. The firm has a fifty day simple moving average of $56.45 and a 200 day simple moving average of $51.06. The company has a market capitalization of $26.53 billion, a PE ratio of 52.98, a P/E/G ratio of 2.18 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. As a group, equities analysts expect that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Davidson Kahn Capital Management LLC purchased a new position in Brookfield Asset Management during the fourth quarter worth about $2,574,000. Kapitalo Investimentos Ltda purchased a new position in Brookfield Asset Management during the fourth quarter worth about $54,000. Northern Trust Corp raised its position in Brookfield Asset Management by 63.0% in the fourth quarter. Northern Trust Corp now owns 426,594 shares of the financial services provider’s stock worth $23,117,000 after acquiring an additional 164,809 shares during the period. Nebula Research & Development LLC raised its position in Brookfield Asset Management by 20.7% in the fourth quarter. Nebula Research & Development LLC now owns 43,758 shares of the financial services provider’s stock worth $2,371,000 after acquiring an additional 7,517 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Brookfield Asset Management by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,910 shares of the financial services provider’s stock worth $754,000 after acquiring an additional 882 shares during the period. 68.41% of the stock is currently owned by hedge funds and other 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.