Brookfield Asset Management (NYSE:BAM) Stock Rating Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other analysts have also recently issued reports on BAM. Scotiabank reiterated an “outperform” rating and issued a $59.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 price target (down from $53.00) on shares of Brookfield Asset Management in a research report on Friday, September 18th. Royal Bank Of Canada set a $65.00 price objective on Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Friday, September 18th. Morgan Stanley set a $56.00 target price on shares of Brookfield Asset Management and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, UBS Group boosted their price target on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.65.

Brookfield Asset Management Trading Up 0.0%

Shares of BAM stock opened at $44.58 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $73.03 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 1.83 and a beta of 1.27. The company has a 50 day moving average price of $49.53 and a 200 day moving average price of $47.57. Brookfield Asset Management has a fifty-two week low of $42.20 and a fifty-two week high of $59.33.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.47 billion. Equities research analysts predict that Brookfield Asset Management will post 1.78 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.5025 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.01 annualized dividend and a dividend yield of 4.5%. Brookfield Asset Management’s dividend payout ratio is presently 116.86%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Trust Co. of Vermont acquired a new stake in shares of Brookfield Asset Management during the second quarter worth about $25,000. Compass Financial Management LLC acquired a new position in Brookfield Asset Management during the second quarter worth approximately $27,000. Allied Private Wealth LLC purchased a new stake in Brookfield Asset Management in the 2nd quarter valued at $40,000. Root Financial Partners LLC grew its holdings in shares of Brookfield Asset Management by 184.5% during the first quarter. Root Financial Partners LLC now owns 1,283 shares of the financial services provider’s stock worth $57,000 after buying an additional 832 shares during the last quarter. Finally, Hanson & Doremus Investment Management increased its holdings in shares of Brookfield Asset Management by 19.3% in the first quarter. Hanson & Doremus Investment Management now owns 1,548 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 250 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a global alternative asset manager that provides investment management services to institutional investors, governments, financial institutions and private-wealth clients. The company manages and invests capital on behalf of clients through a range of private and public investment strategies.

Its principal investment businesses include real estate, infrastructure, renewable power and transition, private equity, and credit. Brookfield seeks to invest in high-quality assets and businesses, often taking an active ownership and operating role.