Brookfield Asset Management (NYSE:BAM) Stock Rating Upgraded by Wall Street Zen

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other brokerages have also issued reports on BAM. Keefe, Bruyette & Woods decreased their price objective on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research report on Monday, November 10th. Morgan Stanley set a $62.00 price target on shares of Brookfield Asset Management in a research note on Monday, October 13th. Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a report on Tuesday, January 6th. The Goldman Sachs Group dropped their price objective on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Finally, Scotiabank cut their price objective on shares of Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating on the stock in a research report on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.43.

Brookfield Asset Management Stock Up 0.4%

NYSE:BAM opened at $53.98 on Friday. The company has a market cap of $88.41 billion, a price-to-earnings ratio of 33.74, a P/E/G ratio of 2.17 and a beta of 1.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s fifty day moving average price is $52.85 and its two-hundred day moving average price is $56.42. Brookfield Asset Management has a 52-week low of $41.78 and a 52-week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. On average, analysts anticipate that Brookfield Asset Management will post 1.7 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clear Trail Advisors LLC bought a new stake in shares of Brookfield Asset Management in the fourth quarter valued at approximately $698,000. SG Americas Securities LLC raised its holdings in Brookfield Asset Management by 147.1% in the 4th quarter. SG Americas Securities LLC now owns 119,494 shares of the financial services provider’s stock valued at $6,260,000 after acquiring an additional 71,129 shares in the last quarter. Maridea Wealth Management LLC raised its holdings in Brookfield Asset Management by 24.9% in the 4th quarter. Maridea Wealth Management LLC now owns 18,670 shares of the financial services provider’s stock valued at $978,000 after acquiring an additional 3,717 shares in the last quarter. Gilbert & Cook Inc. lifted its position in shares of Brookfield Asset Management by 12.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,274 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 581 shares during the period. Finally, Avior Wealth Management LLC grew its holdings in shares of Brookfield Asset Management by 22.1% during the 4th quarter. Avior Wealth Management LLC now owns 12,477 shares of the financial services provider’s stock worth $654,000 after purchasing an additional 2,256 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.