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 report issued on Thursday morning.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets increased their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. UBS Group assumed coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. TD Securities increased their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Finally, HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.38.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $49.35 on Thursday. The company has a 50 day moving average price of $55.23 and a 200-day moving average price of $53.13. Brookfield Asset Management has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The stock has a market capitalization of $21.87 billion, a PE ratio of 37.38, a PEG ratio of 1.92 and a beta of 1.50.

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

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.4375 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.55%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Institutional Trading of Brookfield Asset Management

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its position in Brookfield Asset Management by 0.3% during the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after buying an additional 24,409 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Brookfield Asset Management during the third quarter valued at $219,000. Pathstone Holdings LLC grew its position in Brookfield Asset Management by 1.0% during the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock valued at $1,379,000 after buying an additional 278 shares during the period. PNC Financial Services Group Inc. grew its position in Brookfield Asset Management by 1.7% during the third quarter. PNC Financial Services Group Inc. now owns 60,805 shares of the financial services provider’s stock valued at $2,875,000 after buying an additional 1,007 shares during the period. Finally, Avior Wealth Management LLC grew its position in Brookfield Asset Management by 2,857.1% during the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

About Brookfield Asset Management

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.