Brookfield Asset Management (NYSE:BAM) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered 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 Saturday morning.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings raised Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 1st. Zacks Research cut Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. BMO Capital Markets raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Piper Sandler lowered their target price on Brookfield Asset Management from $53.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. reduced their price target on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.09.

Brookfield Asset Management Price Performance

Shares of BAM opened at $47.96 on Friday. Brookfield Asset Management has a 12-month low of $42.20 and a 12-month high of $64.10. The business has a 50-day simple moving average of $46.05 and a two-hundred day simple moving average of $49.92. The company has a quick ratio of 0.92, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The stock has a market cap of $78.56 billion, a PE ratio of 31.14, a PEG ratio of 1.95 and a beta of 1.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Analysts anticipate that Brookfield Asset Management will post 1.74 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio is 130.52%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in Brookfield Asset Management by 72.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock worth $222,161,000 after buying an additional 1,642,375 shares during the period. Vanguard Group Inc. raised its stake in shares of Brookfield Asset Management by 1.5% in the third quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock worth $991,677,000 after purchasing an additional 253,789 shares during the last quarter. Cumberland Partners Ltd lifted its holdings in shares of Brookfield Asset Management by 78.0% in the third quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock valued at $7,168,000 after purchasing an additional 55,225 shares in the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Brookfield Asset Management by 65.6% during the third quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock valued at $14,463,000 after buying an additional 100,713 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Brookfield Asset Management by 18.5% during the third quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock valued at $26,511,000 after buying an additional 72,600 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

About Brookfield Asset Management

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.