Brookfield Asset Management (NYSE:BAM) Rating Increased to Hold at StockNews.com

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

BAM has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group started coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They set a “hold” rating and a $43.00 price target on the stock. BMO Capital Markets lifted their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company raised their target price on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group lifted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $53.46.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $55.71 on Thursday. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 49.30, a PEG ratio of 2.29 and a beta of 1.42. The business has a 50 day moving average of $50.93 and a 200 day moving average of $43.83. Brookfield Asset Management has a 1-year low of $33.13 and a 1-year high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business posted $0.35 EPS. As a group, sell-side analysts anticipate that Brookfield Asset Management will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Institutional Trading of Brookfield Asset Management

Institutional investors and hedge funds have recently bought and sold shares of the stock. Morse Asset Management Inc bought a new position in shares of Brookfield Asset Management in the 3rd quarter worth approximately $176,000. Toronto Dominion Bank grew its stake in Brookfield Asset Management by 7.7% in the third quarter. Toronto Dominion Bank now owns 1,056,919 shares of the financial services provider’s stock worth $49,982,000 after purchasing an additional 75,963 shares during the period. Geode Capital Management LLC raised its holdings in Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after purchasing an additional 168,170 shares in the last quarter. Continuum Advisory LLC raised its holdings in Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 329 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Brookfield Asset Management during the third quarter valued at $1,634,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

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.