Brookfield Asset Management (NYSE:BAM) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) from a sell rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

According to Zacks, “Brookfield Asset Management Inc. is an asset manager. Focused on property, power and infrastructure assets, the company has assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM. At Brookfield they continually strive to ensure that they have sound corporate governance practices to maintain investor confidence in the way in which they do business. To ensure it communicates with there practices and commitment to strong corporate governance, they are proud to share with its Statement of Corporate Governance, Corporate Disclosure Policy, Code of Business Conduct and Ethics and other related information on its corporate governance initiatives and practices. “

A number of other research analysts have also recently commented on the company. Credit Suisse Group raised Brookfield Asset Management from a neutral rating to an outperform rating and boosted their price target for the stock from $68.00 to $71.50 in a report on Wednesday, April 27th. Royal Bank of Canada dropped their target price on shares of Brookfield Asset Management from $72.00 to $68.00 and set an outperform rating for the company in a research report on Friday, May 20th. StockNews.com upgraded shares of Brookfield Asset Management from a sell rating to a hold rating in a report on Saturday, April 30th. Citigroup increased their price objective on shares of Brookfield Asset Management from $61.00 to $65.50 in a report on Friday, February 11th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Brookfield Asset Management from $60.00 to $57.00 in a research note on Thursday, May 19th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $65.80.

NYSE BAM opened at $48.27 on Thursday. The business’s fifty day moving average is $52.31 and its 200 day moving average is $55.18. Brookfield Asset Management has a fifty-two week low of $44.13 and a fifty-two week high of $62.47. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.17. The company has a market capitalization of $79.23 billion, a PE ratio of 19.86 and a beta of 1.31.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, May 12th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.11. Brookfield Asset Management had a return on equity of 3.25% and a net margin of 5.04%. The company had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $18.35 billion. During the same period in the previous year, the company posted $1.80 EPS. On average, sell-side analysts forecast that Brookfield Asset Management will post 3.25 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, May 27th. This represents a $0.56 annualized dividend and a yield of 1.16%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 23.05%.

In other Brookfield Asset Management news, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the firm’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $31.00, for a total value of $18,157,785.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Brookfield Asset Management In sold 5,925 shares of the business’s stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $32.13, for a total value of $190,370.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,976,384 shares of company stock valued at $105,795,602.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cordasco Financial Network increased its holdings in Brookfield Asset Management by 24.6% in the 3rd quarter. Cordasco Financial Network now owns 988 shares of the financial services provider’s stock worth $53,000 after buying an additional 195 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in shares of Brookfield Asset Management by 46.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 201 shares during the last quarter. Portland Investment Counsel Inc. lifted its position in Brookfield Asset Management by 0.4% during the third quarter. Portland Investment Counsel Inc. now owns 55,953 shares of the financial services provider’s stock valued at $2,991,000 after purchasing an additional 231 shares during the period. Glassman Wealth Services boosted its holdings in Brookfield Asset Management by 6.5% in the fourth quarter. Glassman Wealth Services now owns 3,951 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 241 shares during the last quarter. Finally, Flagship Harbor Advisors LLC grew its position in Brookfield Asset Management by 3.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 6,537 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 241 shares during the period. 60.24% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile (Get Rating)

Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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