Brookfield Asset Management (NYSE:BAM) Given New $72.00 Price Target at National Bank Financial

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective hoisted by investment analysts at National Bank Financial from $70.00 to $72.00 in a report issued on Monday, BayStreet reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial‘s price objective would suggest a potential upside of 32.37% from the company’s current price.

Several other analysts have also recently commented on BAM. Scotiabank set a $60.50 target price on Brookfield Asset Management and gave the company a “sector outperform” rating in a report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Brookfield Asset Management from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. Bank of America dropped their price target on shares of Brookfield Asset Management from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Royal Bank Of Canada set a $65.00 price objective on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research note on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.41.

Brookfield Asset Management Trading Up 2.7%

Shares of NYSE BAM traded up $1.45 during trading on Monday, reaching $54.40. The company had a trading volume of 1,270,977 shares, compared to its average volume of 3,163,933. The company’s fifty day moving average price is $47.18 and its 200-day moving average price is $47.86. Brookfield Asset Management has a 12 month low of $42.20 and a 12 month high of $55.97. The stock has a market cap of $89.12 billion, a P/E ratio of 18.63, a PEG ratio of 2.24 and a beta of 1.27. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Saturday, November 7th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Brookfield Asset Management had a return on equity of 32.71% and a net margin of 71.24%. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $1.60 billion. As a group, research analysts expect that Brookfield Asset Management will post 1.77 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. increased its holdings in Brookfield Asset Management by 7,656.4% in the third quarter. Bessemer Group Inc. now owns 1,099,546 shares of the financial services provider’s stock worth $49,018,000 after purchasing an additional 1,085,370 shares in the last quarter. Moors & Cabot Inc. lifted its stake in Brookfield Asset Management by 59.0% in the third quarter. Moors & Cabot Inc. now owns 8,569 shares of the financial services provider’s stock valued at $382,000 after buying an additional 3,178 shares during the period. Fisher Asset Management LLC bought a new position in shares of Brookfield Asset Management during the 3rd quarter worth approximately $207,000. Maryland State Retirement & Pension System boosted its holdings in shares of Brookfield Asset Management by 15.3% during the 3rd quarter. Maryland State Retirement & Pension System now owns 22,834 shares of the financial services provider’s stock worth $1,018,000 after buying an additional 3,033 shares in the last quarter. Finally, AlphaCore Capital LLC acquired a new stake in shares of Brookfield Asset Management during the 3rd quarter worth approximately $224,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager that invests in and manages assets on behalf of institutional and private wealth clients. Its investment strategies span infrastructure, renewable power and transition, private equity, real estate, and credit.

The company operates across North America, South America, Europe, the Middle East, and Asia-Pacific. Its businesses invest in and manage assets such as energy and transportation infrastructure, renewable power facilities, real estate, and companies across a range of industries.

Brookfield Asset Management became a separately listed company in 2022, following the separation of Brookfield Corporation’s asset management business.