Brookfield Asset Management (NYSE:BAM) Research Coverage Started at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) in a report issued on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods cut shares of Brookfield Asset Management to an “underperform” rating in a research note on Tuesday, April 18th. JPMorgan Chase & Co. lifted their price target on shares of Brookfield Asset Management from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, February 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of Brookfield Asset Management in a research note on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four 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 “Moderate Buy” and an average target price of $43.57.

Brookfield Asset Management Stock Up 1.2 %

NYSE:BAM opened at $31.61 on Thursday. The company has a 50 day moving average price of $32.06 and a 200-day moving average price of $34.44. Brookfield Asset Management has a 1-year low of $26.76 and a 1-year high of $36.50.

Insiders Place Their Bets

In other news, Director Multi-Strategy Mast Brookfield sold 24,744 shares of the business’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $11.96, for a total transaction of $295,938.24. Following the transaction, the director now owns 21,104,923 shares of the company’s stock, valued at approximately $252,414,879.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its holdings in Brookfield Asset Management by 0.7% in the 1st quarter. American Century Companies Inc. now owns 38,228 shares of the financial services provider’s stock valued at $2,161,000 after buying an additional 268 shares during the period. Dimensional Fund Advisors LP raised its holdings in Brookfield Asset Management by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 537,451 shares of the financial services provider’s stock valued at $30,404,000 after buying an additional 20,309 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Brookfield Asset Management in the 1st quarter valued at about $22,369,000. Sequoia Financial Advisors LLC purchased a new stake in Brookfield Asset Management in the 1st quarter valued at about $340,000. Finally, Vanguard Group Inc. raised its holdings in Brookfield Asset Management by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 44,050,716 shares of the financial services provider’s stock valued at $2,491,950,000 after buying an additional 1,220,298 shares during the period.

About Brookfield Asset Management

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Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.