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

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

A number of other brokerages have also recently commented on BAM. Wells Fargo & Company lowered their price target on Brookfield Asset Management from $50.00 to $48.00 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. CIBC boosted their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Bank of America raised Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Thursday, April 10th. Morgan Stanley reduced their price target on Brookfield Asset Management from $62.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Jefferies Financial Group dropped their price target on Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and an average target price of $57.15.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $48.72 on Tuesday. The company has a market capitalization of $79.78 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 1.92 and a beta of 1.63. The company has a 50-day moving average of $51.52 and a 200-day moving average of $53.60. Brookfield Asset Management has a 52 week low of $37.29 and a 52 week high of $62.61.

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

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were issued a dividend of $0.4375 per share. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is currently 132.58%.

Institutional Investors Weigh In On Brookfield Asset Management

Large investors have recently modified their holdings of the stock. Tandem Capital Management Corp ADV lifted its holdings in shares of Brookfield Asset Management by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock valued at $2,119,000 after purchasing an additional 175 shares during the last quarter. RE Dickinson Investment Advisors LLC raised its stake in Brookfield Asset Management by 3.2% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider’s stock valued at $377,000 after buying an additional 215 shares during the last quarter. Focus Financial Network Inc. increased its position in Brookfield Asset Management by 5.2% during the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 218 shares during the last quarter. Gold Investment Management Ltd. boosted its stake in shares of Brookfield Asset Management by 0.5% during the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock worth $2,271,000 after acquiring an additional 219 shares during the last quarter. Finally, Procyon Advisors LLC boosted its position in shares of Brookfield Asset Management by 2.7% in the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 249 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.