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 report issued on Saturday,Wall Street Zen reports.

BAM has been the subject of several other research reports. Weiss Ratings upgraded shares of Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. National Bank Financial raised their price target on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Bank of America lowered their price objective on Brookfield Asset Management from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Wells Fargo & Company started coverage on Brookfield Asset Management in a research note on Friday, October 2nd. They set an “overweight” rating and a $41.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.30.

Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $54.16 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a fifty day moving average of $47.22 and a 200 day moving average of $47.87. The firm has a market cap of $88.74 billion, a PE ratio of 31.10, a PEG ratio of 2.29 and a beta of 1.27. Brookfield Asset Management has a one year low of $42.20 and a one year high of $55.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Saturday, November 7th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $1.60 billion. As a group, research analysts predict that Brookfield Asset Management will post 1.77 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, November 30th will be paid a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 30th. Brookfield Asset Management’s payout ratio is 68.84%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of large investors have recently modified their holdings of the business. Morse Asset Management Inc grew its stake in Brookfield Asset Management by 131.4% during the 3rd quarter. Morse Asset Management Inc now owns 13,137 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 7,460 shares in the last quarter. Bessemer Group Inc. lifted its stake in Brookfield Asset Management by 7,656.4% in the 3rd quarter. Bessemer Group Inc. now owns 1,099,546 shares of the financial services provider’s stock worth $49,018,000 after purchasing an additional 1,085,370 shares in the last quarter. Moors & Cabot Inc. lifted its stake in Brookfield Asset Management by 59.0% in the 3rd quarter. Moors & Cabot Inc. now owns 8,569 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 3,178 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of Brookfield Asset Management during the 3rd quarter worth approximately $207,000. Finally, Maryland State Retirement & Pension System boosted its holdings in shares of Brookfield Asset Management by 15.3% during the 3rd quarter. Maryland State Retirement & Pension System now owns 22,834 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 3,033 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager that invests in and manages assets on behalf of institutional and private wealth clients. Its investment strategies span infrastructure, renewable power and transition, private equity, real estate, and credit.

The company operates across North America, South America, Europe, the Middle East, and Asia-Pacific. Its businesses invest in and manage assets such as energy and transportation infrastructure, renewable power facilities, real estate, and companies across a range of industries.

Brookfield Asset Management became a separately listed company in 2022, following the separation of Brookfield Corporation’s asset management business.