Brookfield Asset Management (NYSE:BAM) Upgraded by StockNews.com to Hold Rating

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other research firms have also commented on BAM. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. CIBC boosted their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods lowered their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group cut their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.15.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $48.31 on Tuesday. The stock has a 50 day simple moving average of $51.70 and a two-hundred day simple moving average of $53.63. Brookfield Asset Management has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The stock has a market cap of $79.10 billion, a P/E ratio of 36.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Sell-side analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds have recently modified their holdings of BAM. Geode Capital Management LLC raised its holdings in Brookfield Asset Management by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after purchasing an additional 168,170 shares during the period. Bank of Montreal Can grew its stake in shares of Brookfield Asset Management by 3.7% during the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock valued at $518,655,000 after acquiring an additional 339,072 shares during the period. TD Asset Management Inc. raised its stake in Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after acquiring an additional 1,359,126 shares during the period. American Century Companies Inc. lifted its holdings in Brookfield Asset Management by 30.5% during the fourth quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider’s stock valued at $4,033,000 after purchasing an additional 17,369 shares in the last quarter. Finally, Laffer Tengler Investments Inc. boosted its position in shares of Brookfield Asset Management by 24.2% in the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock worth $8,008,000 after purchasing an additional 28,768 shares during the period. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

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.