Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by TheStreet from a “c+” rating to a “b” rating in a research note issued to investors on Wednesday.
A number of other research analysts have also recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of Brookfield Asset Management from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. TD Securities lifted their price objective on shares of Brookfield Asset Management from $52.00 to $54.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Scotiabank set a $49.00 target price on shares of Brookfield Asset Management and gave the company a “buy” rating in a research report on Saturday, February 17th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $48.42.
Brookfield Asset Management stock traded down $0.32 during midday trading on Wednesday, reaching $39.28. The stock had a trading volume of 109,034 shares, compared to its average volume of 1,321,703. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.19 and a quick ratio of 0.94. Brookfield Asset Management has a 52-week low of $36.07 and a 52-week high of $44.33. The firm has a market capitalization of $37,640.38, a P/E ratio of 29.57 and a beta of 1.03.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Thursday, February 15th. The financial services provider reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $1.13. Brookfield Asset Management had a net margin of 3.58% and a return on equity of 2.05%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 88.4% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of BAM. Mackenzie Financial Corp boosted its holdings in Brookfield Asset Management by 30.6% in the 4th quarter. Mackenzie Financial Corp now owns 14,712,354 shares of the financial services provider’s stock valued at $640,576,000 after purchasing an additional 3,444,469 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Brookfield Asset Management in the 4th quarter valued at approximately $161,529,000. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Asset Management by 19.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 12,436,990 shares of the financial services provider’s stock valued at $541,506,000 after acquiring an additional 2,049,509 shares during the period. Check Capital Management Inc. CA purchased a new stake in shares of Brookfield Asset Management in the 4th quarter valued at approximately $61,499,000. Finally, Atlantic Trust Group LLC raised its stake in shares of Brookfield Asset Management by 1,637.6% in the 3rd quarter. Atlantic Trust Group LLC now owns 1,213,309 shares of the financial services provider’s stock valued at $50,109,000 after acquiring an additional 1,143,482 shares during the period. Institutional investors own 55.48% of the company’s stock.
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Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.
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