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

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

Several other equities analysts have also issued reports on BAM. Scotiabank lifted their target price on shares of Brookfield Asset Management from $44.50 to $46.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. TD Securities increased their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank of Canada increased their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. raised their price target on shares of Brookfield Asset Management from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, CIBC increased their price target on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $42.46.

Brookfield Asset Management Stock Performance

BAM stock opened at $39.63 on Wednesday. Brookfield Asset Management has a fifty-two week low of $28.35 and a fifty-two week high of $44.38. The company has a market capitalization of $17.59 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57. The business’s 50 day moving average price is $39.59 and its two-hundred day moving average price is $40.12.

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

Institutional Trading of Brookfield Asset Management

Institutional investors and hedge funds have recently bought and sold shares of the stock. YHB Investment Advisors Inc. bought a new position in shares of Brookfield Asset Management during the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV increased its stake in Brookfield Asset Management by 98.2% in the 2nd 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 during the last quarter. Continuum Advisory LLC raised its holdings in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after buying an additional 758 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its position 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 worth $40,000 after acquiring an additional 640 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.