Brookfield Asset Management (NYSE:BAM) Rating Increased to Hold at UBS Group

UBS Group upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) to a hold rating in a research report released on Thursday morning,Zacks.com reports.

A number of other analysts also recently weighed in on the stock. National Bankshares cut their price target on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Bank of America downgraded shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating and set a $68.00 price objective for the company. in a research report on Thursday, September 4th. Keefe, Bruyette & Woods reduced their target price on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a report on Monday, November 10th. Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Brookfield Asset Management in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.98.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $53.80 on Thursday. The company has a market cap of $88.12 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 2.30 and a beta of 1.39. Brookfield Asset Management has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a fifty day moving average price of $53.75 and a 200-day moving average price of $56.74.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%.The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.34 billion. As a group, equities analysts anticipate that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a dividend of $0.4375 per share. The ex-dividend date is Friday, November 28th. This represents a $1.75 dividend on an annualized basis and a yield of 3.3%. Brookfield Asset Management’s payout ratio is currently 109.38%.

Hedge Funds Weigh In On Brookfield Asset Management

Large investors have recently modified their holdings of the business. Jump Financial LLC bought a new stake in Brookfield Asset Management in the first quarter worth approximately $629,000. Envestnet Asset Management Inc. grew its position in shares of Brookfield Asset Management by 1.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 430,081 shares of the financial services provider’s stock worth $23,774,000 after buying an additional 6,728 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Brookfield Asset Management by 9.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,096,412 shares of the financial services provider’s stock valued at $53,083,000 after acquiring an additional 97,445 shares in the last quarter. Northern Trust Corp lifted its position in shares of Brookfield Asset Management by 31.5% during the 1st quarter. Northern Trust Corp now owns 560,827 shares of the financial services provider’s stock valued at $27,172,000 after acquiring an additional 134,233 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in Brookfield Asset Management by 2,106.9% during the second quarter. Avior Wealth Management LLC now owns 7,724 shares of the financial services provider’s stock worth $427,000 after acquiring an additional 7,374 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

About Brookfield Asset Management

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.