Brookfield Asset Management (NYSE:BAM) Downgraded to “Sell” Rating by StockNews.com

StockNews.com cut shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a hold rating to a sell rating in a report released on Thursday.

A number of other analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company raised their price target on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the stock an “underweight” rating in a research report on Thursday, December 12th. Royal Bank of Canada raised their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Scotiabank upped their target price on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Finally, BMO Capital Markets boosted their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.54.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $55.70 on Thursday. The company has a market cap of $24.68 billion, a P/E ratio of 49.29, a PEG ratio of 2.43 and a beta of 1.45. Brookfield Asset Management has a one year low of $37.19 and a one year high of $59.58. The business’s 50-day simple moving average is $56.04 and its 200 day simple moving average is $47.95.

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

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

Institutional Investors Weigh In On Brookfield Asset Management

Large investors have recently made changes to their positions in the company. Hara Capital LLC bought a new position in Brookfield Asset Management in the 3rd quarter worth approximately $27,000. RPg Family Wealth Advisory LLC bought a new position in shares of Brookfield Asset Management in the third quarter worth $27,000. Versant Capital Management Inc increased its holdings in shares of Brookfield Asset Management by 1,606.3% during the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares during the period. Richardson Financial Services Inc. raised its stake in shares of Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 755 shares in the last quarter. Finally, Continuum Advisory LLC lifted 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 during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

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.