Brookfield Asset Management (NYSE:BAM) Stock Rating Raised to “Hold” 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 report sent to investors on Sunday morning,Wall Street Zen reports.

BAM has been the topic of several other reports. Scotiabank reaffirmed an “outperform” rating and set a $59.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Brookfield Asset Management in a research note on Wednesday, August 12th. UBS Group raised their price objective on Brookfield Asset Management from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Morgan Stanley set a $56.00 price objective on Brookfield Asset Management and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Finally, Royal Bank Of Canada set a $65.00 target price on Brookfield Asset Management and gave the company an “outperform” rating in a report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.39.

Brookfield Asset Management Trading Down 0.1%

Shares of NYSE BAM opened at $44.81 on Friday. The firm has a 50 day moving average price of $49.36 and a two-hundred day moving average price of $47.61. The stock has a market cap of $73.41 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 1.84 and a beta of 1.31. Brookfield Asset Management has a 52-week low of $42.20 and a 52-week high of $59.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.47 billion. As a group, equities analysts forecast that Brookfield Asset Management will post 1.78 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were given a $0.5025 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $2.01 annualized dividend and a dividend yield of 4.5%. Brookfield Asset Management’s dividend payout ratio (DPR) is 116.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in Brookfield Asset Management by 62.0% during the first quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock worth $566,092,000 after purchasing an additional 4,872,090 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Brookfield Asset Management by 15.6% in the first quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider’s stock valued at $236,308,000 after buying an additional 716,892 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in shares of Brookfield Asset Management by 6.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider’s stock worth $227,422,000 after buying an additional 294,966 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Brookfield Asset Management by 11.0% during the 1st quarter. Bank of America Corp DE now owns 3,448,351 shares of the financial services provider’s stock worth $153,279,000 after buying an additional 341,600 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Brookfield Asset Management by 27.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,034,379 shares of the financial services provider’s stock worth $106,581,000 after buying an additional 440,952 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.