Brookfield Asset Management (NYSE:BAM) Lowered to Sell at StockNews.com

StockNews.com lowered shares of Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) from a hold rating to a sell rating in a report issued on Monday.

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Brookfield Asset Management from a strong-buy rating to a hold rating in a research report on Monday, February 21st. Deutsche Bank Aktiengesellschaft decreased their target price on Brookfield Asset Management from $64.00 to $62.00 and set a hold rating on the stock in a research report on Thursday, April 7th. Credit Suisse Group lifted their target price on Brookfield Asset Management from $63.00 to $68.00 and gave the company a neutral rating in a research report on Friday, February 11th. TD Securities lifted their target price on Brookfield Asset Management from $75.00 to $77.00 and gave the company an action list buy rating in a research report on Monday, February 7th. Finally, Citigroup lifted their target price on Brookfield Asset Management from $61.00 to $65.50 in a research report on Friday, February 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Asset Management has an average rating of Buy and an average price target of $66.15.

BAM stock opened at $54.58 on Monday. The company has a market cap of $89.58 billion, a PE ratio of 22.84 and a beta of 1.30. The business has a 50-day simple moving average of $55.38 and a 200 day simple moving average of $57.01. Brookfield Asset Management has a 52 week low of $43.96 and a 52 week high of $62.47.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last posted its quarterly earnings results on Thursday, February 10th. The financial services provider reported $0.66 EPS for the quarter. The business had revenue of $21.79 billion during the quarter. Brookfield Asset Management had a return on equity of 3.21% and a net margin of 5.24%. As a group, analysts anticipate that Brookfield Asset Management will post 3.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Monday, February 28th were issued a dividend of $0.14 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, February 25th. Brookfield Asset Management’s payout ratio is 23.43%.

Hedge funds have recently made changes to their positions in the stock. Disciplined Investments LLC bought a new stake in Brookfield Asset Management in the fourth quarter valued at approximately $26,000. Strategic Asset Management LLC boosted its holdings in Brookfield Asset Management by 121.5% in the fourth quarter. Strategic Asset Management LLC now owns 443 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 243 shares during the last quarter. Wealth Quarterback LLC bought a new stake in Brookfield Asset Management in the third quarter valued at approximately $30,000. Massmutual Trust Co. FSB ADV boosted its holdings in Brookfield Asset Management by 46.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 201 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Brookfield Asset Management in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

Brookfield Asset Management Company Profile (Get Rating)

Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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