Brookfield Asset Management (NYSE:BAM) Lowered to Sell Rating by StockNews.com

StockNews.com cut shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a hold rating to a sell rating in a report issued on Thursday.

BAM has been the topic of several other research reports. BMO Capital Markets upped their price target on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Securities increased their price target on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada raised their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $54.54.

Brookfield Asset Management Stock Up 3.2 %

Shares of Brookfield Asset Management stock opened at $55.70 on Thursday. The business has a fifty day simple moving average of $56.04 and a 200-day simple moving average of $47.95. Brookfield Asset Management has a fifty-two week low of $37.19 and a fifty-two week high of $59.58. The firm has a market cap of $24.68 billion, a price-to-earnings ratio of 49.29, a price-to-earnings-growth ratio of 2.43 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the company earned $0.35 EPS. Analysts anticipate that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp lifted its holdings in shares of Brookfield Asset Management by 19.5% during the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after buying an additional 2,205,040 shares during the last quarter. Bank of Montreal Can grew its position in Brookfield Asset Management by 0.5% in the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after acquiring an additional 43,134 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brookfield Asset Management by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after purchasing an additional 24,409 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Brookfield Asset Management by 10.3% during the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after buying an additional 370,383 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

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.