Brookfield Asset Management (NYSE:BAM) Stock Moved Down to "Sell" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Brookfield Asset Management to “sell” from “hold,” while the broader analyst consensus remains “hold” with a $58.65 target price.
• BAM shares opened at $44.58, near their one-year low of $42.20 and below the 50-day moving average of $49.53. The company recently modestly beat quarterly earnings and revenue estimates.
• Institutional investors hold 68.41% of the stock, with several major firms—including Principal Financial Group and CIBC Asset Management—recently increasing their positions.

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

Several other brokerages also recently commented on BAM. National Bank Financial raised their price target on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. UBS Group raised their price target on Brookfield Asset Management from $48.00 to $55.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Weiss Ratings reissued a "hold (c+)" rating on shares of Brookfield Asset Management in a report on Wednesday, August 12th. Piper Sandler restated a "neutral" rating and issued a $50.00 price objective (down from $53.00) on shares of Brookfield Asset Management in a research report on Friday, September 18th. Finally, Scotia raised their target price on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the company a "sector outperform" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $58.65.

Brookfield Asset Management Trading Up 0.0%

Shares of Brookfield Asset Management stock opened at $44.58 on Friday. The firm has a market cap of $73.03 billion, a PE ratio of 25.92, a P/E/G ratio of 1.82 and a beta of 1.27. 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 1 year low of $42.20 and a 1 year high of $59.33. The stock has a fifty day moving average price of $49.53 and a 200-day moving average price of $47.57.

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

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Brookfield Asset Management in the 4th quarter valued at $263,444,000. Principal Financial Group Inc. raised its holdings in shares of Brookfield Asset Management by 62.0% during the first quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider's stock worth $566,092,000 after purchasing an additional 4,872,090 shares during the last quarter. CIBC Asset Management Inc lifted its position in Brookfield Asset Management by 99.1% during the fourth quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider's stock valued at $255,449,000 after purchasing an additional 2,415,593 shares during the period. Madison Asset Management LLC acquired a new position in Brookfield Asset Management during the second quarter valued at $70,433,000. Finally, Cibc World Market Inc. boosted its holdings in Brookfield Asset Management by 33.9% in the fourth quarter. Cibc World Market Inc. now owns 4,312,939 shares of the financial services provider's stock valued at $225,955,000 after purchasing an additional 1,092,851 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a global alternative asset manager that provides investment management services to institutional investors, governments, financial institutions and private-wealth clients. The company manages and invests capital on behalf of clients through a range of private and public investment strategies.

Its principal investment businesses include real estate, infrastructure, renewable power and transition, private equity, and credit. Brookfield seeks to invest in high-quality assets and businesses, often taking an active ownership and operating role.

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