StockNews.com Upgrades Brookfield Asset Management (NYSE:BAM) to Hold

StockNews.com upgraded shares of Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) from a sell rating to a hold rating in a research note published on Tuesday morning.

A number of other equities research analysts have also recently issued reports on BAM. Credit Suisse Group upgraded Brookfield Asset Management from a neutral rating to an outperform rating and boosted their price objective for the company from $68.00 to $71.50 in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft cut their target price on Brookfield Asset Management from $57.00 to $52.00 in a research note on Wednesday, July 13th. Finally, Royal Bank of Canada lowered their price objective on Brookfield Asset Management from $72.00 to $68.00 and set an outperform rating for the company in a research report on Friday, May 20th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Brookfield Asset Management currently has an average rating of Moderate Buy and a consensus target price of $65.88.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $49.85 on Tuesday. The company has a market cap of $81.83 billion, a price-to-earnings ratio of 20.51 and a beta of 1.32. Brookfield Asset Management has a 52 week low of $42.21 and a 52 week high of $62.47. The company has a quick ratio of 0.99, a current ratio of 1.17 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average of $46.85 and a 200-day moving average of $51.05.

Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last posted its quarterly earnings results on Thursday, May 12th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.11. Brookfield Asset Management had a net margin of 5.04% and a return on equity of 3.25%. The business had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $18.35 billion. During the same quarter last year, the firm posted $1.80 EPS. On average, equities analysts forecast that Brookfield Asset Management will post 3.23 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st were issued a dividend of $0.14 per share. The ex-dividend date was Friday, May 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.12%. Brookfield Asset Management’s payout ratio is currently 23.05%.

Insider Buying and Selling

In related news, insider Brookfield Asset Management In sold 756,921 shares of Brookfield Asset Management stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $24.64, for a total value of $18,650,533.44. Following the completion of the transaction, the insider now directly owns 15,127,011 shares in the company, valued at $372,729,551.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Brookfield Asset Management In sold 756,921 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $24.64, for a total transaction of $18,650,533.44. Following the transaction, the insider now owns 15,127,011 shares of the company’s stock, valued at $372,729,551.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Oaktree Capital Management Lp sold 254,754 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $11.32, for a total value of $2,883,815.28. Following the sale, the insider now directly owns 12,227,043 shares in the company, valued at approximately $138,410,126.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,744,984 shares of company stock worth $35,084,176.

Institutional Trading of Brookfield Asset Management

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GoalVest Advisory LLC purchased a new stake in Brookfield Asset Management during the 1st quarter worth $28,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Brookfield Asset Management in the fourth quarter valued at approximately $38,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Brookfield Asset Management by 46.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 201 shares in the last quarter. CWM LLC bought a new stake in Brookfield Asset Management during the fourth quarter worth approximately $41,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Brookfield Asset Management during the first quarter worth approximately $39,000. 60.24% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Asset Management

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Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.