Brookfield Asset Management (NYSE:BAM) Upgraded at Zacks Research

Zacks Research upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a hold rating to a strong-buy rating in a report released on Thursday,Zacks.com reports.

Several other research firms have also issued reports on BAM. National Bank Financial dropped their target price on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Royal Bank Of Canada set a $74.00 price objective on Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Monday, December 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Brookfield Asset Management in a research note on Monday, December 22nd. BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Loop Capital set a $60.00 target price on Brookfield Asset Management in a report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.65.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $50.60 on Thursday. The business’s 50 day simple moving average is $52.10 and its 200 day simple moving average is $54.87. Brookfield Asset Management has a one year low of $41.78 and a one year high of $64.10. The stock has a market capitalization of $82.88 billion, a PE ratio of 33.29, a PEG ratio of 1.84 and a beta of 1.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. As a group, research analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a $0.5025 dividend. The ex-dividend date is Friday, February 27th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.44. This represents a $2.01 annualized dividend and a yield of 4.0%. Brookfield Asset Management’s dividend payout ratio is currently 115.13%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Brookfield Asset Management in the 2nd quarter valued at $294,730,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Brookfield Asset Management by 88,805.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,725,314 shares of the financial services provider’s stock valued at $247,559,000 after buying an additional 4,719,999 shares in the last quarter. State Street Corp grew its holdings in shares of Brookfield Asset Management by 11,172.2% during the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after buying an additional 3,493,431 shares during the last quarter. GFI Investment Counsel Ltd. acquired a new position in shares of Brookfield Asset Management during the fourth quarter valued at about $182,090,000. Finally, CIBC Asset Management Inc increased its position in shares of Brookfield Asset Management by 99.1% during the fourth quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider’s stock worth $255,449,000 after acquiring an additional 2,415,593 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.