Brookfield Asset Management (NYSE:BAM) Upgraded to Buy at HSBC

HSBC upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a hold rating to a buy rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports.

Several other analysts have also recently commented on BAM. TD Securities increased their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods cut their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft upped their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company cut their price target on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, BMO Capital Markets upped their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $59.86 on Friday. The stock’s fifty day moving average is $56.40 and its 200-day moving average is $50.94. The stock has a market capitalization of $26.53 billion, a PE ratio of 52.98, a PEG ratio of 2.18 and a beta of 1.46. Brookfield Asset Management has a 52 week low of $37.29 and a 52 week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. As a group, analysts forecast that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.4375 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 2.92%. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Institutional Investors Weigh In On Brookfield Asset Management

Several large investors have recently modified their holdings of the business. FMR LLC increased its holdings in shares of Brookfield Asset Management by 2.3% in the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock worth $1,064,983,000 after acquiring an additional 447,642 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Brookfield Asset Management by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after acquiring an additional 263,660 shares in the last quarter. TD Asset Management Inc. increased its holdings in shares of Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after acquiring an additional 1,359,126 shares in the last quarter. Capital International Investors increased its holdings in shares of Brookfield Asset Management by 0.7% in the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock worth $873,354,000 after acquiring an additional 116,008 shares in the last quarter. Finally, FIL Ltd increased its holdings in shares of Brookfield Asset Management by 3.9% in the fourth quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock worth $833,581,000 after acquiring an additional 574,978 shares in the last quarter. 68.41% of the stock is currently 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.