Brookfield Asset Management (NYSE: BAM – Get Rating) (TSE: BAM.A) was downgraded by stock analysts StockNews.com from a “hold” rating to a “sell” rating in a note released Friday to investors.
A number of other research analysts have also weighed in on BAM. Deutsche Bank Aktiengesellschaft cut its price target on Brookfield Asset Management from $60.00 to $57.00 in a Thursday, May 19 research report. Royal Bank of Canada cut its price target on Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating for the company in a Friday, May 20 research report. Finally, Credit Suisse Group upgraded Brookfield Asset Management from a “neutral” rating to an “outperforming” rating and raised its share price target from $68.00 to $71.50 in a Wednesday 27 report. april. One research analyst rated the stock with a sell rating, two gave the company a hold rating, six issued a buy rating and one gave the company a high buy rating. According to MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and an average target price of $66.50.
BAM stock opened at $45.44 on Friday. Brookfield Asset Management has a 12-month low of $42.86 and a 12-month high of $62.47. The company has a quick ratio of 0.99, a current ratio of 1.17 and a debt ratio of 1.31. The company has a market capitalization of $74.59 billion, a PE ratio of 18.70 and a beta of 1.32. The company has a 50-day moving average of $47.07 and a 200-day moving average of $52.60.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last released quarterly earnings data on Thursday, May 12. The financial services provider reported earnings per share of $0.81 for the quarter, beating consensus analyst estimates of $0.70 by $0.11. Brookfield Asset Management recorded a return on equity of 3.25% and a net margin of 5.04%. The company posted revenue of $21.88 billion in the quarter, versus analyst estimates of $18.35 billion. In the same quarter last year, the company achieved EPS of $1.80. On average, research analysts expect Brookfield Asset Management to post earnings per share of 3.24 for the current fiscal year.
Separately, major shareholder Oaktree Capital Management Gp sold 585,735 shares of the company in a transaction on Tuesday, April 19. The stock was sold at an average price of $31.00, for a total value of $18,157,785.00. The transaction was disclosed in a filing with the SEC, accessible via the SEC’s website. Additionally, major shareholder Oaktree Capital Management Lp sold 191,591 shares of the company in a trade on Thursday, June 2. The stock was sold at an average price of $11.30, for a total value of $2,164,978.30. Following the completion of the transaction, the insider now owns 11,622,000 shares of the company, valued at $131,328,600. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 4,586,644 shares of the company worth $112,704,831.
Several hedge funds have recently increased or reduced their stakes in BAM. Sumitomo Mitsui Trust Holdings Inc. increased its position in Brookfield Asset Management by 5.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,416,151 shares of the financial services provider valued at $206,309,000 after buying an additional 191,545 shares in the last quarter. Norges Bank bought a new position in Brookfield Asset Management during the fourth quarter valued at $810,807,000. Appleton Partners Inc. MA increased its position in Brookfield Asset Management by 0.8% during the first quarter. Appleton Partners Inc. MA now owns 193,440 shares of the financial services provider valued at $10,943,000 after buying an additional 1,568 shares last quarter. American Century Companies Inc. increased its position in Brookfield Asset Management by 7.4% during the fourth quarter. American Century Companies Inc. now owns 37,960 shares of the financial services provider valued at $2,292,000 after buying 2,603 additional shares last quarter. Finally, CLARET ASSET MANAGEMENT Corp increased its position in Brookfield Asset Management by 3.4% during the first quarter. CLARET ASSET MANAGEMENT Corp now owns 11,645 shares of the financial services provider valued at $658,000 after buying 388 additional shares last quarter. Hedge funds and other institutional investors hold 60.24% of the company’s shares.
About Brookfield Asset Management (Get an evaluation)
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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