Brookfield Asset Management (NYSE:BAM) Stock Rating Upgraded by Wall Street Zen

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued research reports about the company. Canadian Imperial Bank of Commerce set a $62.50 target price on Brookfield Asset Management in a research report on Monday, May 11th. JPMorgan Chase & Co. reduced their price target on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Morgan Stanley decreased their price objective on Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. The Goldman Sachs Group decreased their price objective on Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Finally, Piper Sandler reiterated a “neutral” rating and set a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and a consensus price target of $60.21.

Brookfield Asset Management Stock Up 0.1%

Shares of BAM opened at $47.48 on Friday. The firm has a market cap of $77.78 billion, a P/E ratio of 30.83, a price-to-earnings-growth ratio of 1.90 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. Brookfield Asset Management has a 52 week low of $42.20 and a 52 week high of $64.10. The firm’s 50-day simple moving average is $47.76 and its 200 day simple moving average is $49.05.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. On average, analysts forecast that Brookfield Asset Management will post 1.75 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in BAM. Zions Bancorporation National Association UT boosted its stake in shares of Brookfield Asset Management by 241.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after buying an additional 345 shares during the period. LOM Asset Management Ltd acquired a new stake in Brookfield Asset Management during the fourth quarter worth approximately $31,000. eCIO Inc. bought a new position in Brookfield Asset Management during the 4th quarter worth $42,000. Assetmark Inc. increased its stake in 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 acquiring an additional 395 shares during the period. Finally, Cary Street Partners Financial LLC raised its holdings in Brookfield Asset Management by 227.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 562 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.