Brookfield Asset Management (NYSE:BAM) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Brookfield Asset Management from “sell” to “hold,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $57.39.
• Shares opened at $44.81, below the 52-week high of $59.33. The company recently exceeded quarterly expectations, reporting $0.44 in earnings per share versus a $0.43 consensus and revenue of $1.49 billion.
• Institutional ownership stands at 68.41%, with major investors including Principal Financial Group, Manulife, TD Waterhouse, Bank of America and Goldman Sachs increasing their positions.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Other analysts have also issued reports about the stock. Piper Sandler reiterated a "neutral" rating and set a $50.00 target price (down from $53.00) on shares of Brookfield Asset Management in a report on Friday, September 18th. Scotiabank restated an "outperform" rating and set a $59.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Brookfield Asset Management in a research report on Wednesday, August 12th. Scotia increased their price objective on Brookfield Asset Management from $57.00 to $59.00 and gave the stock a "sector outperform" rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada set a $65.00 price objective on Brookfield Asset Management and gave the stock an "outperform" rating in a research report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $57.39.

Brookfield Asset Management Stock Up 0.6%

Shares of NYSE BAM opened at $44.81 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. Brookfield Asset Management has a 52 week low of $42.20 and a 52 week high of $59.33. The firm's fifty day moving average is $49.36 and its 200 day moving average is $47.59. The company has a market cap of $73.41 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.84 and a beta of 1.31.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.47 billion. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. On average, equities research analysts expect that Brookfield Asset Management will post 1.78 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in Brookfield Asset Management by 62.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider's stock valued at $566,092,000 after acquiring an additional 4,872,090 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Brookfield Asset Management by 15.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider's stock worth $236,308,000 after acquiring an additional 716,892 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Brookfield Asset Management by 6.3% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider's stock valued at $227,422,000 after purchasing an additional 294,966 shares during the period. Bank of America Corp DE lifted its stake in shares of Brookfield Asset Management by 11.0% in the 1st quarter. Bank of America Corp DE now owns 3,448,351 shares of the financial services provider's stock valued at $153,279,000 after purchasing an additional 341,600 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Brookfield Asset Management by 27.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,034,379 shares of the financial services provider's stock valued at $106,581,000 after purchasing an additional 440,952 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. NYSE: BAM is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.

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