StockNews.com Upgrades Brookfield Asset Management (NYSE:BAM) to Hold

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Several other research analysts have also commented on BAM. CIBC boosted their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank reduced their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. UBS Group started coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating for the company. Finally, BMO Capital Markets upped their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and an average target price of $56.38.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at $49.52 on Thursday. The stock has a 50 day moving average price of $55.18 and a 200-day moving average price of $53.19. Brookfield Asset Management has a one year low of $37.29 and a one year high of $62.61. The stock has a market cap of $21.94 billion, a price-to-earnings ratio of 37.52, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Sell-side analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Asset Management

A number of hedge funds have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Brookfield Asset Management by 2.3% in the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock worth $1,064,983,000 after buying an additional 447,642 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Brookfield Asset Management by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after buying an additional 263,660 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after buying an additional 1,359,126 shares during the last quarter. Capital International Investors boosted its stake in shares of Brookfield Asset Management by 0.7% in the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock worth $873,354,000 after buying an additional 116,008 shares during the last quarter. Finally, FIL Ltd boosted its stake in shares of Brookfield Asset Management by 3.9% in the fourth quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock worth $833,581,000 after buying an additional 574,978 shares during the last quarter. 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.