Brookfield Asset Management (NYSE: BAM – Get a rating) (TSE: BAM.A) has been updated by StockNews.com from a “sell” rating to a “hold” rating in a research report released Saturday to clients and investors.
A number of other equity research analysts have also recently published reports on the company. Zacks Investment Research upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a Thursday, April 21 research report. Credit Suisse Group upgraded Brookfield Asset Management from a “neutral” rating to an “outperforming” rating and raised its target price for the company from $68.00 to $71.50 in a report released Wednesday. TD Securities raised its target price on Brookfield Asset Management from $75.00 to $77.00 and gave the company a “buy on stock list” rating in a Monday, Feb. 7 report. Deutsche Bank Aktiengesellschaft cut its price target on Brookfield Asset Management from $64.00 to $62.00 and placed a “hold” rating on the stock in a Thursday, April 7 report. Finally, Citigroup raised its target price on Brookfield Asset Management from $61.00 to $65.50 in a Friday, February 11 report. Four research analysts gave the stock a hold rating, seven issued a buy rating and one gave the company’s stock a strong buy rating. According to data from MarketBeat.com, Brookfield Asset Management currently has an average buy rating and a consensus target price of $66.50.
Shares of NYSE: BAM opened at $49.86 on Friday. The company has a market capitalization of $81.84 billion, a P/E ratio of 20.86 and a beta of 1.30. Brookfield Asset Management has a 1-year low of $44.67 and a 1-year high of $62.47. The company’s 50-day simple moving average is $54.56 and its 200-day simple moving average is $56.80.
Brookfield Asset Management (NYSE: BAM – Get a rating) (TSE: BAM.A) last released its quarterly results on Thursday, February 10. The financial services provider reported earnings per share (EPS) of $0.66 for the quarter. The company posted revenue of $21.79 billion for the quarter. Brookfield Asset Management posted a return on equity of 3.21% and a net margin of 5.24%. Sell-side analysts expect Brookfield Asset Management to post EPS of 3.22 for the current fiscal year.
In related news, major shareholder Brookfield Asset Management In sold 5,925 shares of the company in a trade on Tuesday, April 12. The stock was sold at an average price of $32.13, for a total transaction of $190,370.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. Additionally, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the company in a trade on Tuesday, April 19. The stock was sold at an average price of $31.00, for a total value of $18,157,785.00. Disclosure of this sale can be found here.
Hedge funds have recently been buying and selling shares of the company. Disciplined Investments LLC bought a new stock position from Brookfield Asset Management in Q4 worth about $26,000. Strategic Asset Management LLC increased its position in Brookfield Asset Management shares by 121.5% in the fourth quarter. Strategic Asset Management LLC now owns 443 shares of the financial services provider worth $27,000 after acquiring 243 additional shares in the last quarter. Wealth Quarterback LLC acquired a new stake in shares of Brookfield Asset Management in Q3 valued at approximately $30,000. Massmutual Trust Co. FSB ADV increased its stake in Brookfield Asset Management shares by 46.2% in Q1. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider valued at $36,000 after buying 201 additional shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new equity stake in Brookfield Asset Management in Q4 valued at approximately $38,000. 60.23% of the shares are held by hedge funds and other institutional investors.
About Brookfield Asset Management (Get a rating)
Brookfield Asset Management is an alternative asset manager and REIT/real estate investment manager firm focused on real estate, renewable energy, infrastructure, venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.
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