Brookfield Asset Management (NYSE:BAM) Given New $49.00 Price Target at Keefe, Bruyette & Woods

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target hoisted by equities researchers at Keefe, Bruyette & Woods from $44.00 to $49.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential downside of 13.44% from the stock’s current price.

Several other research firms also recently weighed in on BAM. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Jefferies Financial Group assumed coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective for the company. Scotiabank boosted their target price on Brookfield Asset Management from $45.50 to $55.50 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Brookfield Asset Management from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, BMO Capital Markets boosted their target price on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Brookfield Asset Management has an average rating of “Hold” and a consensus target price of $50.88.

Brookfield Asset Management Trading Up 3.4 %

BAM stock traded up $1.84 during midday trading on Tuesday, reaching $56.61. The stock had a trading volume of 577,621 shares, compared to its average volume of 1,271,987. Brookfield Asset Management has a 52-week low of $30.59 and a 52-week high of $57.36. The company’s fifty day simple moving average is $47.19 and its 200 day simple moving average is $42.32. The company has a market cap of $25.15 billion, a price-to-earnings ratio of 51.43, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same period in the previous year, the company posted $0.35 EPS. Sell-side analysts predict that Brookfield Asset Management will post 1.43 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BAM. Janney Montgomery Scott LLC increased its holdings in shares of Brookfield Asset Management by 2.5% in the first quarter. Janney Montgomery Scott LLC now owns 194,158 shares of the financial services provider’s stock valued at $8,159,000 after purchasing an additional 4,820 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares during the period. SG Americas Securities LLC acquired a new position in Brookfield Asset Management during the first quarter worth $137,000. JCIC Asset Management Inc. grew its holdings in Brookfield Asset Management by 1.0% during the first quarter. JCIC Asset Management Inc. now owns 81,850 shares of the financial services provider’s stock worth $3,440,000 after acquiring an additional 840 shares during the period. Finally, Karpas Strategies LLC grew its holdings in Brookfield Asset Management by 0.7% during the first quarter. Karpas Strategies LLC now owns 263,513 shares of the financial services provider’s stock worth $11,073,000 after acquiring an additional 1,821 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

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.