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

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

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods lowered their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Scotiabank cut their price objective on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Wells Fargo & Company decreased their target price on shares of Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, CIBC lifted their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.38.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock traded down $0.35 during trading hours on Thursday, reaching $49.35. The company’s stock had a trading volume of 1,753,881 shares, compared to its average volume of 1,304,686. Brookfield Asset Management has a one year low of $37.29 and a one year high of $62.61. The company’s 50 day simple moving average is $55.23 and its 200 day simple moving average is $53.13. The stock has a market cap of $21.87 billion, a P/E ratio of 37.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.

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

Institutional Trading of Brookfield Asset Management

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Brookfield Asset Management by 11.6% during 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 period. Laffer Tengler Investments Inc. raised its stake 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 valued at $8,008,000 after purchasing an additional 28,768 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of 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 valued at $489,000 after purchasing an additional 10,000 shares in the last quarter. Plato Investment Management Ltd boosted its position in shares of Brookfield Asset Management by 173.7% in the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock worth $564,000 after buying an additional 6,580 shares during the period. Finally, Tacita Capital Inc grew its holdings in shares of Brookfield Asset Management by 19.3% during 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 in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

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.