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

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

BAM has been the subject of several other research reports. Royal Bank of Canada decreased their price objective on Brookfield Asset Management from $72.00 to $68.00 and set an outperform rating for the company in a report on Friday, May 20th. Deutsche Bank Aktiengesellschaft cut their target price on Brookfield Asset Management from $57.00 to $52.00 in a research report on Wednesday, July 13th. Finally, Credit Suisse Group cut their target price on Brookfield Asset Management from $71.50 to $62.50 and set a maintains rating on the stock in a research report on Thursday, July 28th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Asset Management currently has an average rating of Moderate Buy and a consensus price target of $64.75.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $48.98 on Tuesday. Brookfield Asset Management has a 12 month low of $42.21 and a 12 month high of $62.47. The stock has a fifty day moving average price of $46.77 and a 200-day moving average price of $51.15. The company has a current ratio of 1.17, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The firm has a market cap of $80.41 billion, a PE ratio of 20.16 and a beta of 1.32.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last issued its quarterly earnings data on Thursday, May 12th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.70 by $0.11. Brookfield Asset Management had a return on equity of 3.25% and a net margin of 5.04%. The firm had revenue of $21.88 billion during the quarter, compared to analyst estimates of $18.35 billion. During the same quarter in the prior year, the business posted $1.80 EPS. Equities research analysts predict that Brookfield Asset Management will post 3.23 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, May 27th. Brookfield Asset Management’s dividend payout ratio is currently 23.05%.

Insiders Place Their Bets

In other Brookfield Asset Management news, insider Brookfield Asset Management In sold 377,803 shares of the stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $25.21, for a total transaction of $9,524,413.63. Following the sale, the insider now directly owns 16,014,977 shares of the company’s stock, valued at approximately $403,737,570.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Brookfield Asset Management In sold 377,803 shares of the stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $25.21, for a total transaction of $9,524,413.63. Following the sale, the insider now directly owns 16,014,977 shares of the company’s stock, valued at approximately $403,737,570.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Oaktree Capital Management Lp sold 254,754 shares of the stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $11.32, for a total transaction of $2,883,815.28. Following the sale, the insider now directly owns 12,227,043 shares in the company, valued at $138,410,126.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,244,984 shares of company stock valued at $75,029,176.

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Brookfield Asset Management by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 44,050,716 shares of the financial services provider’s stock valued at $2,491,950,000 after buying an additional 1,220,298 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Brookfield Asset Management by 12.8% in the 1st quarter. Principal Financial Group Inc. now owns 43,430,538 shares of the financial services provider’s stock valued at $2,456,964,000 after buying an additional 4,943,494 shares in the last quarter. TD Asset Management Inc. lifted its stake in Brookfield Asset Management by 0.9% in the 1st quarter. TD Asset Management Inc. now owns 30,636,753 shares of the financial services provider’s stock valued at $1,733,642,000 after buying an additional 272,990 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Brookfield Asset Management by 4.8% in the 1st quarter. Mackenzie Financial Corp now owns 23,766,556 shares of the financial services provider’s stock valued at $1,345,648,000 after buying an additional 1,087,710 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Brookfield Asset Management by 3.5% in the 1st quarter. 1832 Asset Management L.P. now owns 23,020,258 shares of the financial services provider’s stock valued at $1,285,405,000 after buying an additional 774,602 shares in the last quarter. 60.24% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

(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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Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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