Brookfield Asset Management (NYSE:BAM) Rating Increased to Hold at StockNews.com

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Thursday.

BAM has been the subject of several other research reports. TD Securities boosted their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, February 10th. UBS Group began coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a "buy" rating for the company. Scotiabank reduced their target price on 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. CIBC boosted their target price 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. Finally, Keefe, Bruyette & Woods reduced their price target 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Brookfield Asset Management has an average rating of "Moderate Buy" and a consensus price target of $56.38.

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Brookfield Asset Management Stock Up 3.8 %

BAM traded up $1.90 during trading on Thursday, reaching $51.43. The company had a trading volume of 1,592,587 shares, compared to its average volume of 1,308,788. The business has a 50 day simple moving average of $55.17 and a 200-day simple moving average of $53.44. The stock has a market cap of $22.79 billion, a P/E ratio of 38.96, a PEG ratio of 1.92 and a beta of 1.50. Brookfield Asset Management has a 52 week low of $37.29 and a 52 week high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, equities research analysts expect that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors have recently bought and sold shares of BAM. Geode Capital Management LLC boosted its position in Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider's stock valued at $77,293,000 after acquiring an additional 168,170 shares in the last quarter. Laffer Tengler Investments Inc. boosted its position in Brookfield Asset Management by 24.2% during the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider's stock valued at $8,008,000 after purchasing an additional 28,768 shares in the last quarter. Avior Wealth Management LLC grew its stake in Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider's stock valued at $489,000 after purchasing an additional 10,000 shares during the last quarter. Plato Investment Management Ltd raised its holdings in Brookfield Asset Management by 173.7% in the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider's stock worth $564,000 after purchasing an additional 6,580 shares in the last quarter. Finally, Tacita Capital Inc lifted its position in shares of Brookfield Asset Management by 19.3% during the fourth quarter. Tacita Capital Inc now owns 47,767 shares of the financial services provider's stock valued at $2,585,000 after buying an additional 7,743 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

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.