Brookfield Asset Management (NYSE:BAM) Stock Gets Downgrade from Wall Street Zen

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, August 6th. UBS Group lowered their target price on shares of Brookfield Asset Management from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 target price (down from $53.00) on shares of Brookfield Asset Management in a report on Friday, September 18th. Scotiabank reiterated an “outperform” rating and issued a $59.00 price target on shares of Brookfield Asset Management in a research report on Thursday, August 6th. Finally, Scotia upped their price target on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the company a “sector outperform” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.09.

Brookfield Asset Management Stock Up 0.0%

Shares of NYSE BAM opened at $45.33 on Friday. The stock has a market cap of $74.26 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.31. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. Brookfield Asset Management has a 52-week low of $42.20 and a 52-week high of $56.37. The business has a 50-day moving average price of $48.41 and a 200 day moving average price of $47.74.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. Equities research analysts forecast that Brookfield Asset Management will post 1.78 earnings per share for the current year.

Institutional Trading of Brookfield Asset Management

A number of hedge funds have recently added to or reduced their stakes in BAM. Trust Co. of Vermont acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new position in Brookfield Asset Management during the third quarter worth about $26,000. Compass Financial Management LLC acquired a new position in Brookfield Asset Management during the second quarter worth about $27,000. Allied Private Wealth LLC acquired a new position in Brookfield Asset Management during the second quarter worth about $40,000. Finally, Root Financial Partners LLC increased its holdings in Brookfield Asset Management by 184.5% in the first quarter. Root Financial Partners LLC now owns 1,283 shares of the financial services provider’s stock valued at $57,000 after buying an additional 832 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.