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

StockNews.com downgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a hold rating to a sell rating in a research report report published on Wednesday morning.

A number of other brokerages have also commented on BAM. JPMorgan Chase & Co. started coverage on shares of Brookfield Asset Management in a research report on Wednesday, May 15th. They set a neutral rating and a $41.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an outperform rating in a research report on Monday, April 29th. Finally, Scotiabank dropped their price target on shares of Brookfield Asset Management from $47.00 to $44.50 and set a sector outperform rating for the company in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management currently has a consensus rating of Hold and a consensus price target of $42.14.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $40.75 on Wednesday. The firm has a fifty day moving average price of $39.00 and a two-hundred day moving average price of $39.81. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of 37.73, a P/E/G ratio of 1.77 and a beta of 1.62. Brookfield Asset Management has a fifty-two week low of $28.35 and a fifty-two week high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $884.00 million during the quarter. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. As a group, sell-side analysts expect that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were paid a dividend of $0.38 per share. The ex-dividend date was Friday, May 31st. This represents a $1.52 annualized dividend and a yield of 3.73%. Brookfield Asset Management’s dividend payout ratio is 140.74%.

Institutional Trading of Brookfield Asset Management

Several large investors have recently added to or reduced their stakes in the company. Bank of Nova Scotia Trust Co. grew its stake in Brookfield Asset Management by 4.4% during the first quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock worth $261,000 after buying an additional 263 shares during the last quarter. CWM LLC grew its stake in Brookfield Asset Management by 12.2% during the second quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock worth $93,000 after buying an additional 267 shares during the last quarter. NBC Securities Inc. grew its stake in shares of Brookfield Asset Management by 4.7% during the fourth quarter. NBC Securities Inc. now owns 6,139 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 277 shares during the last quarter. Choate Investment Advisors grew its stake in shares of Brookfield Asset Management by 3.3% during the first quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 285 shares during the last quarter. Finally, Jackson Hole Capital Partners LLC grew its stake in shares of Brookfield Asset Management by 3.1% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 9,770 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 291 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

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.