Brookfield Asset Management (NYSE:BAM) Now Covered by StockNews.com

StockNews.com started coverage on shares of Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) in a report released on Saturday. The firm set a “sell” rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. started coverage on Brookfield Asset Management in a report on Tuesday, December 20th. They set an “overweight” rating and a $35.00 target price on the stock. Royal Bank of Canada initiated coverage on shares of Brookfield Asset Management in a report on Wednesday, December 21st. They set an “outperform” rating and a $35.00 price target on the stock. TheStreet lowered shares of Brookfield Asset Management from a “b-” rating to a “c” rating in a research note on Monday, November 28th. BMO Capital Markets assumed coverage on shares of Brookfield Asset Management in a research report on Tuesday, December 13th. They set a “market perform” rating and a $32.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Brookfield Asset Management from $52.00 to $44.00 and set a “hold” rating for the company in a research report on Wednesday, October 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.11.

Brookfield Asset Management Stock Performance

BAM opened at $32.00 on Friday. The stock’s 50 day simple moving average is $35.87 and its 200 day simple moving average is $42.22. Brookfield Asset Management has a 1-year low of $26.76 and a 1-year high of $36.50.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last issued its earnings results on Thursday, November 10th. The financial services provider reported $0.24 earnings per share for the quarter. The firm had revenue of $23.42 billion during the quarter. On average, equities analysts expect that Brookfield Asset Management will post 1.18 EPS for the current year.

Insider Transactions at Brookfield Asset Management

In related news, insider Brookfield Asset Management In sold 2,135,176 shares of the stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $24.09, for a total transaction of $51,436,389.84. Following the completion of the transaction, the insider now owns 13,281,712 shares in the company, valued at $319,956,442.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Brookfield Asset Management In sold 2,135,176 shares of the firm’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $24.09, for a total value of $51,436,389.84. Following the sale, the insider now directly owns 13,281,712 shares of the company’s stock, valued at $319,956,442.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Oaktree Capital Management Lp sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $9.60, for a total transaction of $9,600,000.00. Following the transaction, the insider now owns 6,797,000 shares in the company, valued at $65,251,200. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Brookfield Asset Management

Several large investors have recently modified their holdings of BAM. Gradient Investments LLC bought a new stake in shares of Brookfield Asset Management during the 3rd quarter valued at about $25,000. Ronald Blue Trust Inc. purchased a new position in Brookfield Asset Management in the 2nd quarter worth approximately $38,000. Nisa Investment Advisors LLC raised its holdings in shares of Brookfield Asset Management by 7,777.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 709 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 700 shares in the last quarter. Optiver Holding B.V. raised its holdings in shares of Brookfield Asset Management by 212.1% during the 2nd quarter. Optiver Holding B.V. now owns 774 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 526 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Brookfield Asset Management by 89.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 828 shares of the financial services provider’s stock valued at $34,000 after buying an additional 390 shares during the period.

About Brookfield Asset Management

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Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.

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