Brookfield Asset Management (NYSE:BAM) Rating Increased to Hold at Zacks Investment Research

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Brookfield Asset Management Inc. is an asset manager. Focused on property, power and infrastructure assets, the company has assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM. At Brookfield they continually strive to ensure that they have sound corporate governance practices to maintain investor confidence in the way in which they do business. To ensure it communicates with there practices and commitment to strong corporate governance, they are proud to share with its Statement of Corporate Governance, Corporate Disclosure Policy, Code of Business Conduct and Ethics and other related information on its corporate governance initiatives and practices. “

Several other research firms have also commented on BAM. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, April 30th. Royal Bank of Canada cut their price target on shares of Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, May 20th. Credit Suisse Group upgraded shares of Brookfield Asset Management from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $68.00 to $71.50 in a research note on Wednesday, April 27th. TD Securities lifted their price objective on shares of Brookfield Asset Management from $75.00 to $77.00 and gave the company an “action list buy” rating in a research note on Monday, February 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Brookfield Asset Management from $60.00 to $57.00 in a research note on Thursday, May 19th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of “Buy” and a consensus price target of $65.80.

Shares of BAM stock traded up $0.46 during trading hours on Monday, hitting $50.70. 1,067,109 shares of the company were exchanged, compared to its average volume of 1,850,236. The firm has a market cap of $83.22 billion, a PE ratio of 20.86 and a beta of 1.31. Brookfield Asset Management has a 1 year low of $44.13 and a 1 year high of $62.47. The company has a quick ratio of 0.99, a current ratio of 1.17 and a debt-to-equity ratio of 1.31. The firm has a fifty day moving average of $51.62 and a 200 day moving average of $54.72.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, May 12th. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.11. The business had revenue of $21.88 billion for the quarter, compared to analyst estimates of $18.35 billion. Brookfield Asset Management had a net margin of 5.04% and a return on equity of 3.25%. During the same period in the prior year, the firm posted $1.80 EPS. Analysts expect that Brookfield Asset Management will post 3.24 earnings per share for the current year.

In other news, major shareholder Brookfield Asset Management In sold 5,925 shares of the business’s stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $32.13, for a total transaction of $190,370.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the business’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $31.00, for a total transaction of $18,157,785.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,586,644 shares of company stock valued at $112,704,831.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Disciplined Investments LLC purchased a new position in Brookfield Asset Management in the 4th quarter worth about $26,000. Strategic Asset Management LLC lifted its position in Brookfield Asset Management by 121.5% in the fourth quarter. Strategic Asset Management LLC now owns 443 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 243 shares during the period. GoalVest Advisory LLC bought a new position in Brookfield Asset Management in the first quarter worth $28,000. Benjamin F. Edwards & Company Inc. bought a new position in Brookfield Asset Management in the fourth quarter worth $38,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in Brookfield Asset Management by 46.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 201 shares in the last quarter. Institutional investors and hedge funds own 60.24% of the company’s stock.

About Brookfield Asset Management (Get Rating)

Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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