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Brookfield Asset Management (NYSE:BAM) Research Coverage Started at StockNews.com

kopsource · Jan 24, 2023 02:31

StockNews.com initiated coverage on shares of Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) in a research report report published on Saturday morning. The firm issued a sell rating on the financial services provider's stock.

A number of other research analysts have also recently commented on BAM. Royal Bank of Canada assumed coverage on shares of Brookfield Asset Management in a research report on Wednesday, December 21st. They set an outperform rating and a $35.00 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Brookfield Asset Management from $52.00 to $44.00 and set a hold rating for the company in a research report on Wednesday, October 12th. BMO Capital Markets initiated coverage on Brookfield Asset Management in a research report on Tuesday, December 13th. They set a market perform rating and a $32.00 target price on the stock. The Goldman Sachs Group assumed coverage on Brookfield Asset Management in a report on Tuesday, December 13th. They issued a buy rating and a $40.00 price target for the company. Finally, TheStreet downgraded Brookfield Asset Management from a b- rating to a c rating in a report on Monday, November 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of Moderate Buy and a consensus target price of $48.11.

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Brookfield Asset Management Trading Up 1.3 %

Shares of NYSE BAM opened at $32.40 on Friday. The stock has a fifty day moving average price of $35.60 and a 200 day moving average price of $42.09. Brookfield Asset Management has a 12-month low of $26.76 and a 12-month high of $36.50. The company has a market cap of $13.36 billion and a P/E ratio of 19.40.

Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last posted its earnings results on Thursday, November 10th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $23.42 billion during the quarter. On average, sell-side analysts forecast that Brookfield Asset Management will post 1.18 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, November 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.73%.

Insider Buying and Selling

In other Brookfield Asset Management news, insider Brookfield Asset Management In sold 2,135,176 shares of the business's stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $24.09, for a total transaction of $51,436,389.84. Following the completion of the sale, the insider now owns 13,281,712 shares in the company, valued at $319,956,442.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Oaktree Capital Management Lp sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $9.60, for a total transaction of $9,600,000.00. Following the sale, the insider now directly owns 6,797,000 shares in the company, valued at approximately $65,251,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brookfield Asset Management In sold 2,135,176 shares of the business's stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $24.09, for a total value of $51,436,389.84. Following the transaction, the insider now owns 13,281,712 shares of the company's stock, valued at approximately $319,956,442.08. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Brookfield Asset Management

Several large investors have recently added to or reduced their stakes in BAM. Bank of Montreal Can increased its holdings in shares of Brookfield Asset Management by 0.3% in the 2nd quarter. Bank of Montreal Can now owns 50,709,019 shares of the financial services provider's stock worth $2,289,290,000 after acquiring an additional 128,037 shares during the period. Vanguard Group Inc. grew its position in Brookfield Asset Management by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 46,380,575 shares of the financial services provider's stock worth $1,896,501,000 after purchasing an additional 1,426,257 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Brookfield Asset Management by 5.6% in the second quarter. Principal Financial Group Inc. now owns 45,883,416 shares of the financial services provider's stock valued at $2,039,978,000 after purchasing an additional 2,452,878 shares during the period. FMR LLC raised its holdings in shares of Brookfield Asset Management by 23.4% during the second quarter. FMR LLC now owns 22,743,081 shares of the financial services provider's stock valued at $1,011,608,000 after buying an additional 4,315,285 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Brookfield Asset Management by 1.5% during the third quarter. The Manufacturers Life Insurance Company now owns 18,991,648 shares of the financial services provider's stock worth $780,582,000 after buying an additional 285,949 shares during the period.

Brookfield Asset Management Company Profile

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Brookfield Asset Management Ltd. provides alternative asset management services. Its renewable power and transition business includes the ownership, operation, and development of hydroelectric, wind, solar, and energy transition power generating assets. The company's infrastructure business engages in the ownership, operation, and development of utilities, transport, midstream, data and sustainable resource assets.