Brookfield Asset Management (NYSE:BAM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other research analysts have also commented on the company. Keefe, Bruyette & Woods decreased their target price on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research report on Monday, November 10th. Scotiabank dropped their target price on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating on the stock in a report on Monday, November 10th. Royal Bank Of Canada raised their price target on shares of Brookfield Asset Management from $74.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Morgan Stanley set a $62.00 price objective on shares of Brookfield Asset Management in a research report on Monday, October 13th. Finally, UBS Group set a $59.00 price target on Brookfield Asset Management in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus target price of $63.86.

Brookfield Asset Management Trading Down 1.1%

NYSE BAM opened at $53.22 on Friday. The company has a market capitalization of $87.17 billion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 2.27 and a beta of 1.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97. Brookfield Asset Management has a 12 month low of $41.78 and a 12 month high of $64.10. The company’s fifty day moving average price is $53.66 and its two-hundred day moving average price is $56.72.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. As a group, research analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Asset Management’s payout ratio is 109.38%.

Institutional Trading of Brookfield Asset Management

Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Brookfield Asset Management in the 2nd quarter worth approximately $294,730,000. State Street Corp grew its stake in Brookfield Asset Management by 11,172.2% in the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after purchasing an additional 3,493,431 shares in the last quarter. Legal & General Group Plc increased its position in Brookfield Asset Management by 2,834.0% in the 3rd quarter. Legal & General Group Plc now owns 2,365,709 shares of the financial services provider’s stock worth $134,659,000 after purchasing an additional 2,285,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Brookfield Asset Management by 72.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock valued at $222,161,000 after acquiring an additional 1,642,375 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Brookfield Asset Management by 975.9% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider’s stock valued at $85,463,000 after acquiring an additional 1,601,155 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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.