Brookfield Asset Management (NYSE:BAM) Stock Rating Lowered by 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 note issued to investors on Monday.

A number of other research firms have also recently weighed in on BAM. Keefe, Bruyette & Woods lowered their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. Scotiabank dropped their price objective on Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating for the company in a research note on Monday. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Finally, CIBC increased their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $57.75.

Brookfield Asset Management Stock Down 1.6 %

Shares of BAM opened at $42.86 on Monday. The business has a 50-day simple moving average of $52.84 and a two-hundred day simple moving average of $53.62. Brookfield Asset Management has a 52 week low of $37.29 and a 52 week high of $62.61. The stock has a market cap of $70.18 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, equities analysts anticipate that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in shares of Brookfield Asset Management by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after purchasing an additional 24,409 shares during the period. Verition Fund Management LLC purchased a new position in Brookfield Asset Management during the third quarter worth $391,000. Hilltop Holdings Inc. bought a new position in Brookfield Asset Management during the third quarter valued at $212,000. HighTower Advisors LLC raised its stake in shares of Brookfield Asset Management by 3.7% in the third quarter. HighTower Advisors LLC now owns 134,752 shares of the financial services provider’s stock valued at $6,370,000 after acquiring an additional 4,862 shares during the period. Finally, IHT Wealth Management LLC purchased a new stake in shares of Brookfield Asset Management in the third quarter valued at $256,000. 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.