Brookfield Asset Management (NYSE:BAM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a sell rating to a hold rating in a research report released on Saturday.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group decreased their target price on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Loop Capital set a $60.00 target price on shares of Brookfield Asset Management in a research note on Tuesday, January 6th. Scotiabank cut their price target on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a research note on Monday, November 10th. Morgan Stanley set a $62.00 price target on Brookfield Asset Management in a research note on Monday, October 13th. Finally, UBS Group set a $59.00 target price on shares of Brookfield Asset Management in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.43.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $54.42 on Friday. The company’s 50 day simple moving average is $52.85 and its two-hundred day simple moving average is $56.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97. Brookfield Asset Management has a 1 year low of $41.78 and a 1 year high of $64.10. The stock has a market capitalization of $89.13 billion, a PE ratio of 34.01, a P/E/G ratio of 2.17 and a beta of 1.39.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.34 billion. Analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were given a $0.4375 dividend. The ex-dividend date was Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.2%. Brookfield Asset Management’s payout ratio is presently 109.38%.

Institutional Trading of Brookfield Asset Management

Several large investors have recently modified their holdings of BAM. Caitong International Asset Management Co. Ltd lifted its holdings in Brookfield Asset Management by 1,270.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock worth $26,000 after buying an additional 432 shares during the period. Manchester Capital Management LLC raised its holdings in shares of Brookfield Asset Management by 559.5% during the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 442 shares in the last quarter. Sagard Holdings Management Inc. purchased a new stake in Brookfield Asset Management in the second quarter worth $39,000. Assetmark Inc. boosted its holdings in Brookfield Asset Management by 95.9% in the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 395 shares in the last quarter. Finally, Cary Street Partners Financial LLC increased its position in Brookfield Asset Management by 227.5% during the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 562 shares during the period. 68.41% of the stock is owned by institutional investors.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.