Brookfield Asset Management (NYSE:BAM) Downgraded to “Sell” Rating by StockNews.com

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

BAM has been the subject of a number of other reports. BMO Capital Markets raised their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Brookfield Asset Management from $49.00 to $57.00 and gave the stock an “underperform” rating in a research note on Friday, December 20th. UBS Group began coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating on the stock. The Goldman Sachs Group lifted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, TD Securities upped their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $54.54.

Brookfield Asset Management Stock Down 6.4 %

BAM opened at $52.17 on Thursday. The company has a market capitalization of $23.11 billion, a PE ratio of 46.17, a price-to-earnings-growth ratio of 2.43 and a beta of 1.45. The firm has a 50-day simple moving average of $56.02 and a two-hundred day simple moving average of $48.04. Brookfield Asset Management has a 52 week low of $37.19 and a 52 week high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same period in the previous year, the business earned $0.35 earnings per share. As a group, sell-side analysts expect that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Institutional Trading of Brookfield Asset Management

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp grew its holdings in shares of Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after purchasing an additional 2,205,040 shares during the last quarter. Bank of Montreal Can grew its stake in Brookfield Asset Management by 0.5% in the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after acquiring an additional 43,134 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Brookfield Asset Management by 0.3% during the third quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock worth $419,400,000 after acquiring an additional 24,409 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Asset Management by 68.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after acquiring an additional 2,788,611 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Brookfield Asset Management by 10.3% in the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares during the period. Hedge funds and other 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.