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

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

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft upped their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Royal Bank of Canada increased their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Jefferies Financial Group started coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 price target for the company. Scotiabank upped their price target on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their price objective on Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $53.46.

Brookfield Asset Management Trading Down 0.2 %

Shares of BAM opened at $55.45 on Thursday. The stock has a 50-day moving average price of $51.14 and a 200-day moving average price of $43.93. The company has a market cap of $24.56 billion, a PE ratio of 49.07, a price-to-earnings-growth ratio of 2.29 and a beta of 1.42. Brookfield Asset Management has a 12-month low of $33.45 and a 12-month high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly 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. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, analysts predict that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BAM. Confluence Investment Management LLC grew its holdings in Brookfield Asset Management by 382.6% in the second quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock worth $3,420,000 after purchasing an additional 71,263 shares during the period. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Asset Management in the 2nd quarter worth approximately $4,825,000. CIBC Asset Management Inc increased its position in Brookfield Asset Management by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after buying an additional 370,383 shares in the last quarter. Avior Wealth Management LLC raised its stake in Brookfield Asset Management by 2,857.1% during the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after buying an additional 10,000 shares during the last quarter. Finally, LGT Capital Partners LTD. boosted its holdings in Brookfield Asset Management by 11.5% in the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock worth $25,273,000 after acquiring an additional 55,000 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

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.