Brookfield Asset Management (NYSE:BAM) Upgraded at StockNews.com

StockNews.com upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Several other brokerages have also recently issued reports on BAM. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company decreased their price target on shares of Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a research note on Thursday. Scotiabank lowered their price objective on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Finally, Hsbc Global Res raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.38.

Brookfield Asset Management Stock Performance

BAM opened at $49.52 on Thursday. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 37.52, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The company has a fifty day moving average of $55.18 and a 200 day moving average of $53.27.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. On average, equities research analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 3.53%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio is presently 132.58%.

Hedge Funds Weigh In On Brookfield Asset Management

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake 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 valued at $77,293,000 after purchasing an additional 168,170 shares during the period. Laffer Tengler Investments Inc. boosted its position in Brookfield Asset Management by 24.2% in the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock valued at $8,008,000 after buying an additional 28,768 shares during the period. Avior Wealth Management LLC boosted its position in Brookfield Asset Management by 2,857.1% in the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after buying an additional 10,000 shares during the period. Plato Investment Management Ltd grew its stake in Brookfield Asset Management by 173.7% in the 4th quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock worth $564,000 after acquiring an additional 6,580 shares in the last quarter. Finally, Tacita Capital Inc increased its position in shares of Brookfield Asset Management by 19.3% during the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider’s stock worth $2,585,000 after acquiring an additional 7,743 shares during the period. Hedge funds and other institutional investors 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.