TheStreet cut shares of Brookfield Asset Management Inc. (NYSE:BAM) from a buy rating to a hold rating in a research report released on Monday.

Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

Other equities analysts have also recently issued reports about the company. Vetr upgraded Brookfield Asset Management from a hold rating to a buy rating and set a $38.94 target price for the company in a research note on Monday, June 6th. TD Securities reiterated a buy rating and set a $46.00 target price (up from $44.00) on shares of Brookfield Asset Management in a research note on Tuesday, August 16th. Canaccord Genuity reiterated a buy rating and set a $38.00 target price on shares of Brookfield Asset Management in a research note on Friday, August 12th. Zacks Investment Research cut Brookfield Asset Management from a buy rating to a hold rating in a research note on Tuesday, July 12th. Finally, Credit Suisse Group AG set a $36.00 target price on Brookfield Asset Management and gave the company a hold rating in a research note on Monday, August 22nd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $40.58.

Brookfield Asset Management (NYSE:BAM) traded up 0.85% during trading on Monday, reaching $33.36. 865,143 shares of the company were exchanged. Brookfield Asset Management has a 52-week low of $25.72 and a 52-week high of $35.63. The firm’s 50 day moving average is $34.07 and its 200 day moving average is $33.75. The stock has a market capitalization of $31.99 billion, a PE ratio of 25.80 and a beta of 0.97.

Brookfield Asset Management (NYSE:BAM) last released its quarterly earnings results on Friday, August 12th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.39. The firm earned $5.97 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Brookfield Asset Management had a return on equity of 2.54% and a net margin of 6.47%. Brookfield Asset Management’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. Analysts expect that Brookfield Asset Management will post $0.93 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Monday, August 29th. Brookfield Asset Management’s dividend payout ratio is presently 39.39%.

A number of large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Brookfield Asset Management by 1,570.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,274 shares of the company’s stock valued at $108,000 after buying an additional 3,078 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of 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 in the last quarter. FineMark National Bank & Trust raised its stake in shares of Brookfield Asset Management by 63.1% in the second quarter. FineMark National Bank & Trust now owns 5,220 shares of the company’s stock valued at $173,000 after buying an additional 2,019 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Brookfield Asset Management during the second quarter valued at $207,000. Finally, Union Bankshares Corp bought a new stake in shares of Brookfield Asset Management during the second quarter valued at $229,000. 54.89% of the stock is currently owned by hedge funds and other 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.

5 Day Chart for NYSE:BAM

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