Brookfield Asset Management (NYSE:BAM) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a sell rating to a hold rating in a research note released on Saturday.

Several other research analysts also recently weighed in on the company. Royal Bank Of Canada set a $74.00 target price on Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Monday, December 15th. UBS Group set a $59.00 price objective on shares of Brookfield Asset Management in a research report on Thursday, December 11th. Loop Capital set a $60.00 target price on shares of Brookfield Asset Management in a research report on Tuesday. The Goldman Sachs Group reduced their price target on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a research note on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Moderate Buy” and a consensus target price of $63.43.

Brookfield Asset Management Trading Up 0.4%

Shares of Brookfield Asset Management stock opened at $53.98 on Friday. The firm has a 50-day simple moving average of $52.85 and a two-hundred day simple moving average of $56.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97. Brookfield Asset Management has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The company has a market cap of $88.41 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 2.17 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%. As a group, equities analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, November 28th were given a dividend of $0.4375 per share. The ex-dividend date was Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.2%. Brookfield Asset Management’s payout ratio is presently 109.38%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Brookfield Asset Management by 1.5% in the third quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock valued at $991,677,000 after purchasing an additional 253,789 shares in the last quarter. TD Asset Management Inc lifted its position in Brookfield Asset Management by 1.6% during the second quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider’s stock worth $861,101,000 after buying an additional 250,068 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Brookfield Asset Management by 2.5% during the second quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider’s stock worth $631,412,000 after buying an additional 282,853 shares during the last quarter. Norges Bank purchased a new stake in Brookfield Asset Management in the 2nd quarter valued at $294,730,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Brookfield Asset Management by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider’s stock worth $232,402,000 after acquiring an additional 857,994 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.