Brookfield Asset Management (NYSE:BAM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a sell rating to a hold rating in a research note released on Saturday.

Other analysts have also recently issued reports about the stock. UBS Group lifted their price objective on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Scotia increased their price objective on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. reduced their target price on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Canadian Imperial Bank of Commerce set a $62.50 target price on shares of Brookfield Asset Management in a research report on Monday, May 11th. Finally, Weiss Ratings lowered shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $59.50.

Brookfield Asset Management Stock Up 0.7%

Shares of BAM stock opened at $52.84 on Friday. Brookfield Asset Management has a fifty-two week low of $42.20 and a fifty-two week high of $63.37. The firm has a market capitalization of $86.56 billion, a PE ratio of 30.72, a P/E/G ratio of 2.10 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.38 and a current ratio of 1.38. The stock’s 50-day simple moving average is $47.42 and its 200-day simple moving average is $47.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.78% and a net margin of 48.89%.The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. Equities analysts expect that Brookfield Asset Management will post 1.76 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.5025 per share. This represents a $2.01 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Asset Management’s payout ratio is 116.86%.

Hedge Funds Weigh In On Brookfield Asset Management

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in Brookfield Asset Management during the first quarter worth $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Brookfield Asset Management by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock valued at $12,648,000 after buying an additional 24,013 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Brookfield Asset Management by 24.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 497 shares during the period. Cerity Partners LLC raised its position in shares of Brookfield Asset Management by 17.6% in the second quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock worth $1,916,000 after acquiring an additional 5,184 shares during the period. Finally, State Street Corp boosted its stake in shares of Brookfield Asset Management by 11,172.2% during the 2nd quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock worth $194,845,000 after acquiring an additional 3,493,431 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.