Brookfield Asset Management (NYSE:BAM) Upgraded at UBS Group

UBS Group upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Piper Sandler decreased their price target on shares of Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Brookfield Asset Management in a research note on Monday, December 8th. Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods reduced their price objective on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research note on Monday, November 10th. Finally, Morgan Stanley set a $62.00 price objective on Brookfield Asset Management in a research report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.98.

Brookfield Asset Management Trading Down 1.4%

NYSE:BAM opened at $53.80 on Thursday. The company has a market capitalization of $88.12 billion, a PE ratio of 33.63, a P/E/G ratio of 2.27 and a beta of 1.39. Brookfield Asset Management has a 52-week low of $41.78 and a 52-week high of $64.10. The stock’s 50 day moving average price is $53.75 and its 200 day moving average price is $56.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.34 billion. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%. On average, research analysts anticipate that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Asset Management’s payout ratio is currently 109.38%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of large investors have recently modified their holdings of BAM. Caitong International Asset Management Co. Ltd boosted its stake in shares of Brookfield Asset Management by 1,270.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after buying an additional 432 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in Brookfield Asset Management by 559.5% in the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 442 shares during the period. Sagard Holdings Management Inc. purchased a new stake in shares of Brookfield Asset Management during the 2nd quarter worth $39,000. Truvestments Capital LLC grew its stake in shares of Brookfield Asset Management by 85.5% during the 1st quarter. Truvestments Capital LLC now owns 937 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 432 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Brookfield Asset Management by 95.9% during the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 395 shares during the period. 68.41% of the stock is owned by hedge funds and other institutional investors.

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.