Brookfield Asset Management (NYSE:BAM) Lowered to “Sell” Rating by StockNews.com

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other brokerages also recently commented on BAM. Scotiabank boosted their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada boosted their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. UBS Group started coverage on shares of Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. The Goldman Sachs Group lifted their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, BMO Capital Markets increased their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and a consensus target price of $54.54.

Brookfield Asset Management Stock Up 3.2 %

BAM stock traded up $1.72 during midday trading on Thursday, hitting $55.70. The company’s stock had a trading volume of 1,039,388 shares, compared to its average volume of 877,438. The firm has a 50-day simple moving average of $56.04 and a 200-day simple moving average of $47.95. The firm has a market capitalization of $24.68 billion, a P/E ratio of 49.29, a PEG ratio of 2.43 and a beta of 1.45. Brookfield Asset Management has a 52-week low of $37.19 and a 52-week high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm earned $0.35 earnings per share. On average, sell-side analysts expect that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BAM. Geode Capital Management LLC grew its position in shares of Brookfield Asset Management by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after acquiring an additional 168,170 shares during the last quarter. Avior Wealth Management LLC grew its position in Brookfield Asset Management by 2,857.1% during the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Brookfield Asset Management by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock worth $39,516,000 after purchasing an additional 45,670 shares during the last quarter. LGT Capital Partners LTD. increased its stake in Brookfield Asset Management by 11.5% in the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock valued at $25,273,000 after purchasing an additional 55,000 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in shares of Brookfield Asset Management by 10.3% during the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after buying an additional 370,383 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.