Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.
BAM has been the topic of several other research reports. The Goldman Sachs Group lifted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. UBS Group initiated coverage on Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating for the company. Scotiabank raised their target price on Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods boosted their price target on Brookfield Asset Management from $49.00 to $57.00 and gave the stock an “underperform” rating in a research report on Friday, December 20th. Finally, BMO Capital Markets increased their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management currently has an average rating of “Hold” and a consensus price target of $54.54.
Check Out Our Latest Stock Analysis on BAM
Brookfield Asset Management Price Performance
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.35 EPS. On average, research analysts forecast that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of BAM. Mackenzie Financial Corp lifted its holdings in shares of Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after acquiring an additional 2,205,040 shares during the last quarter. Bank of Montreal Can raised its position in Brookfield Asset Management by 0.5% in the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after purchasing an additional 43,134 shares during the period. Principal Financial Group Inc. boosted 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 buying an additional 24,409 shares during the period. The Manufacturers Life Insurance Company boosted its position 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 worth $260,770,000 after buying an additional 2,788,611 shares during the period. Finally, CIBC Asset Management Inc grew its stake 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 buying an additional 370,383 shares in the last quarter. Institutional investors and hedge funds 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.
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