Brookfield Asset Management (NYSE:BAM) Cut to “Sell” at StockNews.com

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

Several other analysts have also commented on the company. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Scotiabank cut their price objective on shares of Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating for the company in a report on Monday. Keefe, Bruyette & Woods reduced their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. CIBC boosted their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets boosted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.75.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $42.86 on Monday. 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 market capitalization of $70.18 billion, a PE ratio of 32.47, a P/E/G ratio of 1.92 and a beta of 1.63. The company has a 50 day moving average price of $52.84 and a 200-day moving average price of $53.62.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) 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, analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BAM. Norges Bank acquired a new position in Brookfield Asset Management in the fourth quarter valued at approximately $287,361,000. William Blair Investment Management LLC purchased a new stake in shares of Brookfield Asset Management during the 4th quarter worth approximately $204,169,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock valued at $216,507,000 after buying an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Brookfield Asset Management in the 4th quarter valued at $94,122,000. Finally, TD Asset Management Inc. raised its stake in Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after acquiring an additional 1,359,126 shares in the last quarter. 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.