Citigroup cut shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) from a buy rating to a neutral rating in a report released on Monday morning, Briefing.com Automated Import reports.

Several other brokerages have also recently commented on BAM. BMO Capital Markets lifted their price objective on shares of Brookfield Asset Management from $59.00 to $63.00 and gave the company an outperform rating in a research note on Friday. TD Securities lifted their price objective on shares of Brookfield Asset Management from $69.00 to $73.00 and gave the company a buy rating in a research note on Friday. Canaccord Genuity set a $62.00 price objective on shares of Brookfield Asset Management and gave the company a buy rating in a research note on Friday, September 27th. Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company an outperform rating in a research note on Monday. Finally, ValuEngine cut shares of Brookfield Asset Management from a hold rating to a sell rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Brookfield Asset Management has an average rating of Buy and an average target price of $62.25.

NYSE BAM traded down $0.24 on Monday, hitting $57.23. 1,583,916 shares of the company’s stock traded hands, compared to its average volume of 1,488,479. The company has a current ratio of 1.11, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. Brookfield Asset Management has a 1-year low of $36.58 and a 1-year high of $58.10. The firm’s 50-day moving average price is $54.22 and its two-hundred day moving average price is $50.56. The firm has a market capitalization of $60.17 billion, a PE ratio of 15.44 and a beta of 1.05.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, November 14th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.11 by $0.80. Brookfield Asset Management had a net margin of 5.82% and a return on equity of 3.95%. The business had revenue of $17.88 billion during the quarter, compared to analysts’ expectations of $13.92 billion. During the same period in the previous year, the business posted $1.07 EPS. The business’s quarterly revenue was up 20.3% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, November 27th.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Flinton Capital Management LLC lifted its stake in shares of Brookfield Asset Management by 147.7% in the 2nd quarter. Flinton Capital Management LLC now owns 38,360 shares of the financial services provider’s stock valued at $1,802,000 after purchasing an additional 22,876 shares during the period. Boenning & Scattergood Inc. lifted its stake in shares of Brookfield Asset Management by 82.6% in the 2nd quarter. Boenning & Scattergood Inc. now owns 27,396 shares of the financial services provider’s stock valued at $1,309,000 after purchasing an additional 12,395 shares during the period. Cobblestone Capital Advisors LLC NY lifted its stake in shares of Brookfield Asset Management by 60.6% in the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 225,046 shares of the financial services provider’s stock valued at $10,753,000 after purchasing an additional 84,905 shares during the period. ETRADE Capital Management LLC increased its holdings in Brookfield Asset Management by 19.4% in the 2nd quarter. ETRADE Capital Management LLC now owns 11,912 shares of the financial services provider’s stock worth $569,000 after acquiring an additional 1,937 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Brookfield Asset Management by 15.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 189,496 shares of the financial services provider’s stock worth $10,060,000 after acquiring an additional 25,974 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

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Analyst Recommendations for Brookfield Asset Management (NYSE:BAM)

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