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Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.
According to Zacks, “Brookfield Asset Management Inc. is an asset manager. Focused on property, power and infrastructure assets, the company has assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM. At Brookfield they continually strive to ensure that they have sound corporate governance practices to maintain investor confidence in the way in which they do business. To ensure it communicates with there practices and commitment to strong corporate governance, they are proud to share with its Statement of Corporate Governance, Corporate Disclosure Policy, Code of Business Conduct and Ethics and other related information on its corporate governance initiatives and practices. “
Several other research firms have also weighed in on BAM. TD Securities upped their target price on Brookfield Asset Management from $75.00 to $77.00 and gave the company an “action list buy” rating in a report on Monday, February 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Brookfield Asset Management from $64.00 to $62.00 and set a “hold” rating for the company in a research report on Thursday, April 7th. Credit Suisse Group upgraded Brookfield Asset Management from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $68.00 to $71.50 in a research report on Wednesday, April 27th. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, April 30th. Finally, Citigroup lifted their price target on Brookfield Asset Management from $61.00 to $65.50 in a report on Friday, February 11th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $66.50.
NYSE:BAM traded down $2.13 during trading hours on Monday, hitting $46.31. The company’s stock had a trading volume of 2,845,021 shares, compared to its average volume of 1,774,874. The company has a market capitalization of $76.01 billion, a PE ratio of 19.38 and a beta of 1.31. Brookfield Asset Management has a 52-week low of $44.74 and a 52-week high of $62.47. The business’s 50-day moving average is $54.20 and its two-hundred day moving average is $56.47.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last posted its earnings results on Thursday, February 10th. The financial services provider reported $0.66 earnings per share for the quarter. The company had revenue of $21.79 billion for the quarter. Brookfield Asset Management had a return on equity of 3.21% and a net margin of 5.24%. On average, research analysts anticipate that Brookfield Asset Management will post 3.22 EPS for the current fiscal year.
In other Brookfield Asset Management news, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brookfield Asset Management In sold 1,500,000 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $26.63, for a total value of $39,945,000.00. Following the completion of the transaction, the insider now directly owns 16,392,780 shares in the company, valued at $436,539,731.40. The disclosure for this sale can be found here. Insiders have sold a total of 2,841,660 shares of company stock worth $77,620,655 over the last three months.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Disciplined Investments LLC bought a new stake in shares of Brookfield Asset Management in the 4th quarter valued at approximately $26,000. Strategic Asset Management LLC increased its holdings in shares of Brookfield Asset Management by 121.5% in the 4th quarter. Strategic Asset Management LLC now owns 443 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 243 shares during the last quarter. GoalVest Advisory LLC bought a new stake in shares of Brookfield Asset Management in the 1st quarter valued at approximately $28,000. Wealth Quarterback LLC bought a new stake in shares of Brookfield Asset Management in the 3rd quarter valued at approximately $30,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Brookfield Asset Management by 46.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 201 shares during the last quarter. 60.24% of the stock is currently owned by institutional investors.
Brookfield Asset Management Company Profile (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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