Brookfield Asset Management Inc. (NYSE:BAM) was downgraded by stock analysts at TheStreet from a “buy” rating to a “hold” rating in a research note issued on Monday.

Other equities research analysts have also issued research reports about the company. Vetr raised Brookfield Asset Management from a “buy” rating to a “strong-buy” rating and set a $38.94 target price on the stock in a research note on Monday, June 13th. Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 target price on shares of Brookfield Asset Management in a research note on Friday, August 12th. Zacks Investment Research lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Keefe, Bruyette & Woods assumed coverage on Brookfield Asset Management in a research note on Tuesday, May 24th. They issued an “outperform” rating and a $41.00 target price on the stock. Finally, TD Securities reaffirmed a “buy” rating and issued a $46.00 target price (up previously from $44.00) on shares of Brookfield Asset Management in a research note on Tuesday, August 16th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $40.58.

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

Brookfield Asset Management (NYSE:BAM) traded up 0.85% on Monday, hitting $33.36. The stock had a trading volume of 865,143 shares. The company’s 50-day moving average price is $34.07 and its 200 day moving average price is $33.75. The firm has a market cap of $31.99 billion, a price-to-earnings ratio of 25.80 and a beta of 0.97. Brookfield Asset Management has a one year low of $25.72 and a one year high of $35.63.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/brookfield-asset-management-inc-bam-downgraded-by-thestreet.html

Brookfield Asset Management (NYSE:BAM) last posted its earnings results on Friday, August 12th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.39. Brookfield Asset Management had a return on equity of 2.54% and a net margin of 6.47%. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the company earned $0.65 EPS. Brookfield Asset Management’s revenue was up 21.3% on a year-over-year basis. Analysts expect that Brookfield Asset Management will post $0.93 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. Brookfield Asset Management’s payout ratio is 39.39%.

Hedge funds have recently added to or reduced their stakes in the company. 1832 Asset Management L.P. increased its stake in Brookfield Asset Management by 0.5% in the first quarter. 1832 Asset Management L.P. now owns 7,692,954 shares of the company’s stock worth $431,689,000 after buying an additional 37,308 shares during the last quarter. Motley Fool Wealth Management LLC increased its stake in shares of Brookfield Asset Management by 10.3% in the first quarter. Motley Fool Wealth Management LLC now owns 108,738 shares of the company’s stock valued at $3,783,000 after buying an additional 10,133 shares in the last quarter. Aviva PLC increased its stake in shares of Brookfield Asset Management by 1.6% in the first quarter. Aviva PLC now owns 469,274 shares of the company’s stock valued at $16,344,000 after buying an additional 7,421 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in shares of Brookfield Asset Management by 17,173.8% in the first quarter. Burgundy Asset Management Ltd. now owns 5,052,587 shares of the company’s stock valued at $175,950,000 after buying an additional 5,023,337 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Brookfield Asset Management during the first quarter valued at about $478,000. Institutional investors and hedge funds own 54.89% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.

5 Day Chart for NYSE:BAM

Receive News & Ratings for Brookfield Asset Management Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management Inc. and related companies with MarketBeat.com's FREE daily email newsletter.