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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

Other equities research analysts have also recently issued research reports about the company. Scotiabank lowered their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research note on Thursday, February 13th. UBS Group assumed coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating on the stock. BMO Capital Markets raised their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods decreased their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. Finally, CIBC boosted their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.38.

Brookfield Asset Management Trading Down 0.7 %

BAM stock traded down $0.35 during midday trading on Thursday, reaching $49.35. The company had a trading volume of 1,753,881 shares, compared to its average volume of 1,304,686. The company has a 50 day moving average of $55.23 and a two-hundred day moving average of $53.13. The company has a market capitalization of $21.87 billion, a P/E ratio of 37.38, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management has a 1 year low of $37.29 and a 1 year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, sell-side analysts anticipate that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors have recently added to or reduced their stakes in BAM. Geode Capital Management LLC raised its stake in shares of Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after acquiring an additional 168,170 shares during the last quarter. Laffer Tengler Investments Inc. grew its position in Brookfield Asset Management by 24.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock worth $8,008,000 after acquiring an additional 28,768 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 10,000 shares in the last quarter. Plato Investment Management Ltd grew its holdings in shares of Brookfield Asset Management by 173.7% during the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 6,580 shares during the last quarter. Finally, Tacita Capital Inc raised its holdings in shares of Brookfield Asset Management by 19.3% in the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock valued at $2,585,000 after buying an additional 7,743 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

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.