Brookfield Asset Management (NYSE:BAM) PT Raised to $50.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target raised by investment analysts at TD Securities from $49.00 to $50.00 in a research report issued on Tuesday, BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Securities’ price objective would suggest a potential upside of 23.33% from the stock’s previous close.

Several other research analysts have also recently issued reports on BAM. JPMorgan Chase & Co. lifted their target price on Brookfield Asset Management from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. CIBC boosted their price objective on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research note on Friday, July 19th. Scotiabank boosted their price objective on Brookfield Asset Management from $44.50 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Royal Bank of Canada upped their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Finally, Jefferies Financial Group assumed coverage on Brookfield Asset Management in a report on Friday. They issued a “hold” rating and a $43.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.67.

Brookfield Asset Management Stock Performance

Shares of BAM stock traded up $1.16 on Tuesday, hitting $40.54. The company had a trading volume of 635,189 shares, compared to its average volume of 1,327,808. The firm has a market cap of $17.99 billion, a P/E ratio of 37.41, a P/E/G ratio of 1.95 and a beta of 1.57. The stock’s 50-day moving average is $39.57 and its two-hundred day moving average is $40.13. Brookfield Asset Management has a twelve month low of $28.35 and a twelve month high of $44.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The firm had revenue of $884.00 million during the quarter. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. Equities research analysts predict that Brookfield Asset Management will post 1.47 EPS for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds have recently modified their holdings of the company. Bank of Nova Scotia Trust Co. lifted its stake in Brookfield Asset Management by 4.4% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 6,202 shares of the financial services provider’s stock valued at $261,000 after buying an additional 263 shares in the last quarter. CWM LLC raised its holdings in Brookfield Asset Management by 12.2% in the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 267 shares during the last quarter. NBC Securities Inc. raised its holdings in Brookfield Asset Management by 4.7% in the 4th quarter. NBC Securities Inc. now owns 6,139 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 277 shares during the last quarter. Choate Investment Advisors raised its holdings in Brookfield Asset Management by 3.3% in the 1st quarter. Choate Investment Advisors now owns 8,900 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 285 shares during the last quarter. Finally, Continuum Advisory LLC raised its holdings in Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 285 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Asset Management

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.