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Brookfield Asset Management (NYSE:BAM) Now Covered by StockNews.com

Financial News Live · Jan 25, 2023 02:21

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

A number of other analysts also recently weighed in on BAM. TheStreet downgraded Brookfield Asset Management from a b- rating to a c rating in a research report on Monday, November 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on 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. JPMorgan Chase & Co. initiated coverage on Brookfield Asset Management in a research report on Tuesday, December 20th. They issued an overweight rating and a $35.00 price objective for the company. The Goldman Sachs Group initiated coverage on Brookfield Asset Management in a research report on Tuesday, December 13th. They issued a buy rating and a $40.00 price objective for the company. Finally, Royal Bank of Canada began coverage on Brookfield Asset Management in a research report on Wednesday, December 21st. They issued an outperform rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of Moderate Buy and a consensus price target of $48.11.

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Brookfield Asset Management Price Performance

Shares of NYSE BAM opened at $32.20 on Friday. The business has a 50-day moving average of $35.32 and a 200-day moving average of $42.00. Brookfield Asset Management has a 12 month low of $26.76 and a 12 month high of $36.50.

Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last released its earnings results on Thursday, November 10th. The financial services provider reported $0.24 earnings per share for the quarter. The firm had revenue of $23.42 billion during the quarter. Analysts predict that Brookfield Asset Management will post 1.18 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, November 30th were paid a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, November 29th. This represents a $0.56 annualized dividend and a yield of 1.74%.

Insider Transactions at Brookfield Asset Management

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

Institutional Trading of Brookfield Asset Management

Several institutional investors have recently made changes to their positions in BAM. Gradient Investments LLC purchased a new position in Brookfield Asset Management during the 3rd quarter valued at approximately $25,000. Nisa Investment Advisors LLC grew its holdings in Brookfield Asset Management by 7,777.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 709 shares of the financial services provider's stock valued at $29,000 after buying an additional 700 shares in the last quarter. Optiver Holding B.V. grew its holdings in Brookfield Asset Management by 212.1% during the 2nd quarter. Optiver Holding B.V. now owns 774 shares of the financial services provider's stock valued at $34,000 after buying an additional 526 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Brookfield Asset Management by 89.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 828 shares of the financial services provider's stock valued at $34,000 after buying an additional 390 shares in the last quarter. Finally, Ronald Blue Trust Inc. purchased a new position in Brookfield Asset Management during the 2nd quarter valued at approximately $38,000.

About Brookfield Asset Management

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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.