Brookfield Asset Management Inc. (BAM) Cut to “Hold” at TheStreet
BAM has been the topic of a number of other research reports. Credit Suisse Group AG set a $36.00 price objective on Brookfield Asset Management and gave the stock a hold rating in a research note on Monday, August 22nd. Keefe, Bruyette & Woods initiated coverage on Brookfield Asset Management in a research note on Tuesday, May 24th. They issued an outperform rating and a $41.00 price target on the stock. TD Securities restated a buy rating and issued a $46.00 price target (up previously from $44.00) on shares of Brookfield Asset Management in a research note on Tuesday, August 16th. Canaccord Genuity restated a buy rating and issued a $38.00 price target on shares of Brookfield Asset Management in a research note on Friday, August 12th. Finally, Zacks Investment Research cut Brookfield Asset Management from a buy rating to a hold rating in a research note on Tuesday, July 12th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $40.58.
Brookfield Asset Management (NYSE:BAM) opened at 33.72 on Monday. The company has a market capitalization of $32.34 billion, a PE ratio of 26.08 and a beta of 0.97. Brookfield Asset Management has a one year low of $25.72 and a one year high of $35.63. The firm’s 50 day moving average price is $34.07 and its 200-day moving average price is $33.75.
Brookfield Asset Management (NYSE:BAM) last announced its quarterly earnings data on Friday, August 12th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.39. Brookfield Asset Management had a return on equity of 2.54% and a net margin of 6.47%. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. Equities analysts forecast that Brookfield Asset Management will post $0.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 39.39%.
Several hedge funds have recently added to or reduced their stakes in the company. CI Investments Inc. raised its stake in Brookfield Asset Management by 198.4% in the second quarter. CI Investments Inc. now owns 2,685,564 shares of the company’s stock valued at $88,812,000 after buying an additional 1,785,564 shares during the period. Sterling Capital Management LLC raised its stake in Brookfield Asset Management by 8.5% in the second quarter. Sterling Capital Management LLC now owns 9,164 shares of the company’s stock valued at $303,000 after buying an additional 719 shares during the period. Hillsdale Investment Management Inc. raised its stake in Brookfield Asset Management by 43.3% in the second quarter. Hillsdale Investment Management Inc. now owns 4,200 shares of the company’s stock valued at $138,000 after buying an additional 1,270 shares during the period. Madison Investment Holdings Inc. raised its stake in Brookfield Asset Management by 1.0% in the second quarter. Madison Investment Holdings Inc. now owns 2,295,740 shares of the company’s stock valued at $75,920,000 after buying an additional 21,650 shares during the period. Finally, Stifel Financial Corp raised its stake in Brookfield Asset Management by 16.8% in the second quarter. Stifel Financial Corp now owns 276,222 shares of the company’s stock valued at $9,136,000 after buying an additional 39,745 shares during the period. 53.31% of the stock is currently owned by institutional investors.
Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.
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