Brookfield Asset Management Inc. (BAM) Downgraded to “Hold” at TheStreet
Brookfield Asset Management Inc. (NYSE:BAM) was downgraded by stock analysts at TheStreet from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
Other analysts have also issued reports about the stock. Vetr upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating and set a $38.94 price objective on the stock in a report on Monday, June 6th. TD Securities restated a “buy” rating and issued a $46.00 price objective (up from $44.00) on shares of Brookfield Asset Management in a report on Tuesday, August 16th. Canaccord Genuity restated a “buy” rating and issued a $38.00 price objective on shares of Brookfield Asset Management in a report on Friday, August 12th. Zacks Investment Research downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, Credit Suisse Group AG set a $36.00 target price on Brookfield Asset Management and gave the company a “hold” rating in a research report on Monday, August 22nd. 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 stock. The company currently has an average rating of “Buy” and a consensus target price of $40.58.
Shares of Brookfield Asset Management (NYSE:BAM) traded up 0.85% during trading on Monday, hitting $33.36. 865,143 shares of the company traded hands. The company has a 50-day moving average of $34.07 and a 200-day moving average of $33.75. Brookfield Asset Management has a 52-week low of $25.72 and a 52-week high of $35.63. The stock has a market capitalization of $31.99 billion, a PE ratio of 25.80 and a beta of 0.97.
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Brookfield Asset Management (NYSE:BAM) last issued its quarterly earnings data on Friday, August 12th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.39. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $4.78 billion. Brookfield Asset Management had a net margin of 6.47% and a return on equity of 2.54%. Brookfield Asset Management’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. Equities analysts expect that Brookfield Asset Management will post $0.93 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Monday, August 29th. Brookfield Asset Management’s dividend payout ratio is presently 39.39%.
Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in Brookfield Asset Management during the second quarter valued at $1,134,262,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Brookfield Asset Management by 23.5% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,472,250 shares of the company’s stock valued at $105,664,000 after buying an additional 469,773 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Brookfield Asset Management by 4,241.7% in the first quarter. Acadian Asset Management LLC now owns 9,986 shares of the company’s stock valued at $347,000 after buying an additional 9,756 shares during the last quarter. Allen Investment Management LLC boosted its stake in Brookfield Asset Management by 13.2% in the first quarter. Allen Investment Management LLC now owns 25,458 shares of the company’s stock valued at $886,000 after buying an additional 2,969 shares during the last quarter. Finally, Addenda Capital Inc. boosted its stake in Brookfield Asset Management by 0.9% in the first quarter. Addenda Capital Inc. now owns 1,368,671 shares of the company’s stock valued at $47,797,000 after buying an additional 12,021 shares during the last quarter. 54.89% of the stock is owned by institutional investors and hedge funds.
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.
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