Brookfield Asset Management (NYSE:BAM) Price Target Raised to $53.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target lifted by investment analysts at Royal Bank of Canada from $50.00 to $53.00 in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 32.53% from the company’s current price.

Other analysts have also issued reports about the stock. HSBC lowered shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. CIBC lifted their price target on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Scotiabank boosted their target price on shares of Brookfield Asset Management from $46.50 to $47.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 8th. TD Securities dropped their price objective on Brookfield Asset Management from $52.00 to $49.00 and set an “action list buy” rating for the company in a report on Tuesday, January 9th. Finally, BMO Capital Markets raised their price target on Brookfield Asset Management from $34.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Brookfield Asset Management Stock Performance

Shares of BAM traded up $0.29 during mid-day trading on Monday, reaching $39.99. 284,596 shares of the company’s stock traded hands, compared to its average volume of 1,158,540. The business’s 50-day moving average price is $40.88 and its 200-day moving average price is $37.85. The stock has a market capitalization of $16.52 billion, a P/E ratio of 35.40, a price-to-earnings-growth ratio of 1.53 and a beta of 1.68. Brookfield Asset Management has a 12 month low of $28.35 and a 12 month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. The business had revenue of $1.13 billion during the quarter. During the same quarter last year, the company posted $0.31 EPS. Equities research analysts anticipate that Brookfield Asset Management will post 1.49 EPS for the current year.

Institutional Trading of Brookfield Asset Management

A number of hedge funds have recently modified their holdings of BAM. Partners Value Investments L.P. increased its position in shares of Brookfield Asset Management by 0.9% during the 4th quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock valued at $1,237,556,000 after purchasing an additional 280,098 shares during the last quarter. Capital World Investors increased its stake in Brookfield Asset Management by 10.0% in the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock worth $986,656,000 after purchasing an additional 2,241,372 shares during the period. FMR LLC increased its stake in shares of Brookfield Asset Management by 10.2% during the third quarter. FMR LLC now owns 14,217,008 shares of the financial services provider’s stock valued at $473,859,000 after buying an additional 1,313,734 shares during the period. TD Asset Management Inc boosted its position in Brookfield Asset Management by 29.2% during the fourth quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock valued at $464,078,000 after purchasing an additional 2,595,793 shares in the last quarter. Finally, FIL Ltd boosted its position in Brookfield Asset Management by 66.1% during the fourth quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock valued at $454,424,000 after purchasing an additional 4,501,410 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

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.