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

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

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

Brookfield Asset Management Stock Up 0.7 %

BAM traded up $0.29 during midday trading on Monday, reaching $39.99. 284,596 shares of the company’s stock were exchanged, compared to its average volume of 1,158,540. The firm has a market capitalization of $16.52 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 1.53 and a beta of 1.68. Brookfield Asset Management has a one year low of $28.35 and a one year high of $43.00. The business has a 50-day simple moving average of $40.88 and a two-hundred day simple moving average of $37.85.

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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $1.13 billion during the quarter. Brookfield Asset Management had a net margin of 50.23% and a return on equity of 96.43%. During the same period in the prior year, the business earned $0.31 EPS. As a group, research analysts anticipate that Brookfield Asset Management will post 1.49 EPS for the current fiscal year.

Institutional Trading of Brookfield Asset Management

Several institutional investors and hedge funds have recently bought and sold shares of BAM. Partners Value Investments L.P. grew its holdings in shares of Brookfield Asset Management by 0.9% during the fourth quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider’s stock worth $1,237,556,000 after buying an additional 280,098 shares in the last quarter. Capital World Investors lifted its holdings 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 lifted its holdings in Brookfield Asset Management by 10.2% in the 3rd quarter. FMR LLC now owns 14,217,008 shares of the financial services provider’s stock valued at $473,859,000 after acquiring an additional 1,313,734 shares during the last quarter. TD Asset Management Inc raised its holdings in Brookfield Asset Management by 29.2% during the 4th quarter. TD Asset Management Inc now owns 11,498,183 shares of the financial services provider’s stock worth $464,078,000 after buying an additional 2,595,793 shares during the period. Finally, FIL Ltd raised its holdings in Brookfield Asset Management by 66.1% during the 4th quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider’s stock worth $454,424,000 after buying an additional 4,501,410 shares during the period. Hedge funds and other institutional investors 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.