StockNews.com Lowers Brookfield Asset Management (NYSE:BAM) to Sell

StockNews.com downgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a hold rating to a sell rating in a report published on Wednesday.

A number of other research analysts also recently issued reports on the company. Scotiabank raised their price target on Brookfield Asset Management from $44.50 to $46.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an outperform rating in a report on Monday, April 29th. CIBC increased their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an outperformer rating in a research note on Friday, July 19th. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield Asset Management from $41.00 to $42.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Finally, TD Securities upped their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a buy rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of Hold and an average price target of $42.46.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock remained flat at $39.63 during trading hours on Wednesday. 977,648 shares of the stock traded hands, compared to its average volume of 1,338,058. The company’s fifty day moving average price is $39.59 and its 200-day moving average price is $40.13. The firm has a market cap of $17.59 billion, a P/E ratio of 36.69, a P/E/G ratio of 1.95 and a beta of 1.57. Brookfield Asset Management has a fifty-two week low of $28.35 and a fifty-two week high of $44.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. The company had revenue of $884.00 million during the quarter. Equities research analysts expect that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is 140.74%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Brookfield Asset Management during the 4th quarter worth approximately $239,421,000. FIL Ltd raised its holdings in shares of Brookfield Asset Management by 66.1% in the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock worth $454,424,000 after acquiring an additional 4,501,410 shares during the last quarter. Beutel Goodman & Co Ltd. lifted its position in shares of Brookfield Asset Management by 114.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock valued at $279,387,000 after acquiring an additional 3,695,774 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Brookfield Asset Management by 29.2% in the fourth quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock valued at $464,078,000 after acquiring an additional 2,595,793 shares in the last quarter. Finally, Capital World Investors boosted its stake in shares of Brookfield Asset Management by 10.0% during the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after acquiring an additional 2,241,372 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

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.