Brookfield Asset Management (NYSE:BAM) Stock Rating Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other research firms also recently weighed in on BAM. UBS Group decreased their price objective on Brookfield Asset Management from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Weiss Ratings raised Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Morgan Stanley set a $54.00 target price on Brookfield Asset Management in a report on Friday. Bank of America reduced their price target on Brookfield Asset Management from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Finally, Royal Bank Of Canada set a $65.00 price target on Brookfield Asset Management and gave the company an “outperform” rating in a research note on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.09.

Brookfield Asset Management Trading Down 1.4%

BAM opened at $45.33 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. Brookfield Asset Management has a fifty-two week low of $42.20 and a fifty-two week high of $56.37. The company’s 50 day moving average price is $48.41 and its two-hundred day moving average price is $47.71. The firm has a market capitalization of $74.26 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 1.87 and a beta of 1.31.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. As a group, research analysts predict that Brookfield Asset Management will post 1.78 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were paid a $0.5025 dividend. The ex-dividend date was Monday, August 31st. This represents a $2.01 annualized dividend and a dividend yield of 4.4%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 116.86%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BAM. Hanson & Doremus Investment Management lifted its holdings in shares of Brookfield Asset Management by 19.3% in the first quarter. Hanson & Doremus Investment Management now owns 1,548 shares of the financial services provider’s stock worth $69,000 after buying an additional 250 shares in the last quarter. Crescent Grove Advisors LLC boosted its position in shares of Brookfield Asset Management by 6.2% during the first quarter. Crescent Grove Advisors LLC now owns 5,100 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 300 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Brookfield Asset Management by 22.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,674 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 304 shares in the last quarter. NewEdge Wealth LLC grew its stake in Brookfield Asset Management by 6.4% during the first quarter. NewEdge Wealth LLC now owns 5,739 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 344 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Brookfield Asset Management by 16.0% during the second quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 408 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.