Brookfield Asset Management (NYSE:BAM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a sell rating to a hold rating in a report published on Sunday,Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on BAM. Scotiabank reissued an “outperform” rating and issued a $59.00 price target on shares of Brookfield Asset Management in a research report on Thursday, August 6th. Morgan Stanley set a $56.00 price objective on Brookfield Asset Management and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Scotia lifted their target price on Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research report on Thursday, August 6th. Royal Bank Of Canada set a $65.00 target price on Brookfield Asset Management and gave the company an “outperform” rating in a report on Friday, September 18th. Finally, UBS Group upped their target price on Brookfield Asset Management from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $57.57.

Brookfield Asset Management Stock Up 1.2%

BAM stock opened at $45.27 on Friday. The stock has a market cap of $74.17 billion, a P/E ratio of 26.32, a PEG ratio of 1.83 and a beta of 1.31. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. Brookfield Asset Management has a twelve month low of $42.20 and a twelve month high of $59.33. The company’s 50 day moving average is $49.24 and its two-hundred day moving average is $47.63.

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

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were paid a dividend of $0.5025 per share. The ex-dividend date was Monday, August 31st. This represents a $2.01 dividend on an annualized basis and a yield of 4.4%. Brookfield Asset Management’s dividend payout ratio is currently 116.86%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rosenberg Matthew Hamilton boosted its stake in shares of Brookfield Asset Management by 74.7% during the third quarter. Rosenberg Matthew Hamilton now owns 2,025 shares of the financial services provider’s stock worth $90,000 after buying an additional 866 shares during the period. Versant Capital Management Inc increased its position in Brookfield Asset Management by 34.8% in the 3rd quarter. Versant Capital Management Inc now owns 1,953 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 504 shares during the period. Baird Financial Group Inc. increased its position in Brookfield Asset Management by 131.4% in the 2nd quarter. Baird Financial Group Inc. now owns 45,809 shares of the financial services provider’s stock valued at $2,054,000 after acquiring an additional 26,011 shares during the period. Allworth Financial LP raised its stake in Brookfield Asset Management by 16.0% during the 2nd quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 408 shares during the last quarter. Finally, Waverly Advisors LLC raised its stake in Brookfield Asset Management by 11.8% during the 2nd quarter. Waverly Advisors LLC now owns 15,264 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 1,608 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.