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Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
A number of other research analysts have also weighed in on BAM. Deutsche Bank Aktiengesellschaft reduced their price objective on Brookfield Asset Management from $60.00 to $57.00 in a research report on Thursday, May 19th. Royal Bank of Canada reduced their price objective on Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, May 20th. Finally, Credit Suisse Group raised Brookfield Asset Management from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $68.00 to $71.50 in a report on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. 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 twelve month low of $42.86 and a twelve month high of $62.47. The company has a quick ratio of 0.99, a current ratio of 1.17 and a debt-to-equity ratio of 1.31. The firm has a market cap of $74.59 billion, a PE ratio of 18.70 and a beta of 1.32. The business 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 posted its quarterly earnings data on Thursday, May 12th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.11. Brookfield Asset Management had a return on equity of 3.25% and a net margin of 5.04%. The company had revenue of $21.88 billion during the quarter, compared to analyst estimates of $18.35 billion. During the same quarter last year, the company earned $1.80 EPS. On average, research analysts expect that Brookfield Asset Management will post 3.24 earnings per share for the current fiscal year.
In other news, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the firm’s stock in a transaction on Tuesday, April 19th. 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, which can be accessed through the SEC website. Also, major shareholder Oaktree Capital Management Lp sold 191,591 shares of the firm’s stock in a transaction on Thursday, June 2nd. 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 in the company, valued at $131,328,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,586,644 shares of company stock worth $112,704,831.
Several hedge funds have recently added to or reduced their stakes in BAM. Sumitomo Mitsui Trust Holdings Inc. lifted 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’s stock valued at $206,309,000 after purchasing an additional 191,545 shares in the last quarter. Norges Bank purchased a new position in Brookfield Asset Management during the fourth quarter valued at $810,807,000. Appleton Partners Inc. MA lifted 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’s stock valued at $10,943,000 after purchasing an additional 1,568 shares in the last quarter. American Century Companies Inc. lifted 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’s stock valued at $2,292,000 after purchasing an additional 2,603 shares in the last quarter. Finally, CLARET ASSET MANAGEMENT Corp lifted 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’s stock valued at $658,000 after purchasing an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 60.24% of the company’s stock.
About Brookfield Asset Management (Get Rating)
Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and 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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