Brookfield Asset Management (NYSE:BAM) Rating Lowered to Sell at StockNews.com

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

BAM has been the topic of several other reports. JPMorgan Chase & Co. boosted their price objective on Brookfield Asset Management from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Royal Bank of Canada upped their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Scotiabank boosted their price objective on shares of Brookfield Asset Management from $44.50 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. CIBC raised their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. Finally, Jefferies Financial Group began coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $42.46.

Brookfield Asset Management Stock Up 2.7 %

Shares of BAM stock opened at $39.63 on Wednesday. The stock has a market cap of $17.59 billion, a P/E ratio of 36.69, a PEG ratio of 1.95 and a beta of 1.57. The company’s fifty day simple moving average is $39.59 and its two-hundred day simple moving average is $40.12. Brookfield Asset Management has a 52 week low of $28.35 and a 52 week high of $44.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The business had revenue of $884.00 million for the quarter. On average, analysts anticipate that Brookfield Asset Management will post 1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently bought and sold shares of the company. YHB Investment Advisors Inc. purchased a new position in Brookfield Asset Management during the first quarter worth about $26,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 385 shares in the last quarter. Continuum Advisory LLC increased its position in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares during the period. Finally, WASHINGTON TRUST Co boosted its holdings in Brookfield Asset Management by 151.3% in the second quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 640 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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.