Brookfield Asset Management (NYSE:BAM) Upgraded at HSBC

HSBC upgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a hold rating to a buy rating in a research report released on Friday, MarketBeat Ratings reports.

Other research analysts also recently issued reports about the company. BMO Capital Markets increased their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Royal Bank of Canada raised their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company decreased their price target on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, UBS Group assumed coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Performance

NYSE:BAM opened at $59.86 on Friday. The company has a market cap of $26.53 billion, a PE ratio of 52.98, a PEG ratio of 2.18 and a beta of 1.46. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61. The stock has a 50-day simple moving average of $56.40 and a 200 day simple moving average of $50.94.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. On average, research analysts predict that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.92%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 132.58%.

Institutional Trading of Brookfield Asset Management

A number of hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in shares of Brookfield Asset Management by 2.3% in the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after buying an additional 447,642 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Brookfield Asset Management by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after purchasing an additional 263,660 shares during the last quarter. TD Asset Management Inc. lifted its holdings in Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after purchasing an additional 1,359,126 shares during the last quarter. Capital International Investors lifted its holdings in Brookfield Asset Management by 0.7% during the 4th quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock worth $873,354,000 after purchasing an additional 116,008 shares during the last quarter. Finally, FIL Ltd lifted its holdings in Brookfield Asset Management by 3.9% during the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock worth $833,581,000 after purchasing an additional 574,978 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

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.