Brookfield Asset Management (NYSE:BAM) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a sell rating to a hold rating in a research report released on Tuesday morning.

BAM has been the topic of several other reports. TD Securities increased their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. BMO Capital Markets upped their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Scotiabank dropped their target price on shares of Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating for the company in a research report on Monday, April 7th. Jefferies Financial Group decreased their price objective on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods decreased 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 research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.15.

Brookfield Asset Management Stock Up 0.8 %

Shares of BAM opened at $48.72 on Tuesday. The stock has a 50 day moving average price of $51.52 and a 200 day moving average price of $53.60. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61. The company has a market capitalization of $79.78 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63.

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 net margin of 54.47% and a return on equity of 81.16%. On average, equities analysts anticipate that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.59%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s payout ratio is presently 132.58%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently modified their holdings of BAM. ST Germain D J Co. Inc. bought a new stake in shares of Brookfield Asset Management in the 1st quarter worth $26,000. Truvestments Capital LLC boosted its stake in Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 419 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in Brookfield Asset Management during the fourth quarter valued at $32,000. Versant Capital Management Inc lifted its position in shares of Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 771 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Brookfield Asset Management by 61.0% during the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock valued at $47,000 after buying an additional 325 shares during the period. 68.41% of the stock is currently owned by 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.