Brookfield Asset Management (NYSE:BAM) Upgraded by HSBC to Buy Rating

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A was upgraded by analysts at HSBC from a "hold" rating to a "buy" rating in a research report issued on Friday, MarketBeat reports.

Other equities analysts have also recently issued reports about the stock. CIBC raised their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Scotiabank reduced their price objective on shares of Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. StockNews.com cut shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Thursday, January 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a research note on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Brookfield Asset Management presently has an average rating of "Hold" and an average price target of $56.71.

Brookfield Asset Management Trading Up 1.6 %

Shares of BAM traded up $0.93 during mid-day trading on Friday, hitting $60.76. 1,411,146 shares of the company traded hands, compared to its average volume of 1,477,443. Brookfield Asset Management has a one year low of $37.29 and a one year high of $62.61. The business has a 50-day moving average of $56.50 and a 200 day moving average of $51.29. The stock has a market capitalization of $26.93 billion, a price-to-earnings ratio of 53.77, a PEG ratio of 2.18 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. As a group, analysts anticipate that Brookfield Asset Management will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in BAM. Ritholtz Wealth Management acquired a new stake in shares of Brookfield Asset Management during the third quarter worth $232,000. Creative Planning raised its holdings in shares of Brookfield Asset Management by 3.4% during the third quarter. Creative Planning now owns 70,670 shares of the financial services provider's stock worth $3,342,000 after acquiring an additional 2,313 shares during the period. Schubert & Co acquired a new stake in shares of Brookfield Asset Management during the third quarter worth $216,000. Compass Ion Advisors LLC acquired a new stake in shares of Brookfield Asset Management during the third quarter worth $251,000. Finally, Whittier Trust Co. raised its holdings in shares of Brookfield Asset Management by 5.4% during the third quarter. Whittier Trust Co. now owns 25,072 shares of the financial services provider's stock worth $1,186,000 after acquiring an additional 1,277 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.