Brookfield Asset Management (NYSE:BAM) Downgraded by Wall Street Zen to “Sell”

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other equities research analysts have also recently commented on BAM. Weiss Ratings cut shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. Canadian Imperial Bank of Commerce set a $62.50 price target on Brookfield Asset Management in a report on Monday, May 11th. Scotiabank restated an “outperform” rating and issued a $57.00 price target (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a research note on Monday, May 18th. Finally, JPMorgan Chase & Co. reduced their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.21.

Brookfield Asset Management Trading Up 0.0%

NYSE:BAM opened at $45.88 on Friday. The stock has a 50-day simple moving average of $47.32 and a 200-day simple moving average of $48.48. The stock has a market cap of $75.17 billion, a P/E ratio of 29.80, a P/E/G ratio of 1.85 and a beta of 1.29. Brookfield Asset Management has a 1 year low of $42.20 and a 1 year high of $64.10. 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 (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.43 billion for 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%. As a group, analysts anticipate that Brookfield Asset Management will post 1.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently made changes to their positions in the business. Zions Bancorporation National Association UT grew its stake in Brookfield Asset Management by 241.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 345 shares during the last quarter. LOM Asset Management Ltd acquired a new position in Brookfield Asset Management during the fourth quarter worth about $31,000. eCIO Inc. purchased a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $42,000. Allworth Financial LP lifted its holdings in shares of Brookfield Asset Management by 47.8% in the fourth quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 333 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Brookfield Asset Management by 709.8% in the fourth quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 937 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

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.