Wall Street Zen Downgrades Brookfield Asset Management (NYSE:BAM) 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, Wall Street Zen reports.

Several other research analysts have also weighed in on BAM. Weiss Ratings restated a “hold (c+)” rating on shares of Brookfield Asset Management in a research report on Wednesday, August 12th. Scotiabank reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Morgan Stanley set a $56.00 price objective on shares of Brookfield Asset Management and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada set a $65.00 target price on Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Friday, September 18th. Finally, UBS Group lifted their price target on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and a consensus target price of $58.65.

Brookfield Asset Management Price Performance

Shares of BAM opened at $44.58 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average is $49.53 and its two-hundred day moving average is $47.59. Brookfield Asset Management has a twelve month low of $42.20 and a twelve month high of $59.33. The firm has a market capitalization of $73.03 billion, a PE ratio of 25.92, a P/E/G ratio of 1.82 and a beta of 1.27.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. Research analysts anticipate that Brookfield Asset Management will post 1.78 earnings per share for the current year.

Institutional Trading of Brookfield Asset Management

Several institutional investors have recently added to or reduced their stakes in BAM. TD Asset Management Inc lifted its position in shares of Brookfield Asset Management by 2.0% during the fourth quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider’s stock worth $827,135,000 after purchasing an additional 315,036 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Brookfield Asset Management by 62.0% in the 1st quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock worth $566,092,000 after acquiring an additional 4,872,090 shares during the period. Norges Bank acquired a new stake in shares of Brookfield Asset Management in the fourth quarter valued at approximately $263,444,000. CIBC Asset Management Inc raised its stake in Brookfield Asset Management by 99.1% during the 4th quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider’s stock valued at $255,449,000 after acquiring an additional 2,415,593 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Brookfield Asset Management by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 4,604,648 shares of the financial services provider’s stock worth $245,497,000 after purchasing an additional 310,049 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a global alternative asset manager that provides investment management services to institutional investors, governments, financial institutions and private-wealth clients. The company manages and invests capital on behalf of clients through a range of private and public investment strategies.

Its principal investment businesses include real estate, infrastructure, renewable power and transition, private equity, and credit. Brookfield seeks to invest in high-quality assets and businesses, often taking an active ownership and operating role.