Brookfield Asset Management (NYSE:BAM) Price Target Raised to $70.00 at National Bank Financial

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective raised by equities researchers at National Bank Financial from $69.00 to $70.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price target indicates a potential upside of 32.46% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Canadian Imperial Bank of Commerce set a $62.50 price objective on Brookfield Asset Management in a report on Monday, May 11th. Royal Bank Of Canada dropped their target price on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Morgan Stanley set a $56.00 price target on shares of Brookfield Asset Management and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Weiss Ratings downgraded shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 15th. Finally, Piper Sandler reiterated a “neutral” rating and set a $50.00 price objective (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $59.22.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM traded up $0.22 on Thursday, reaching $52.85. 1,408,626 shares of the company traded hands, compared to its average volume of 3,296,864. The stock has a market capitalization of $86.57 billion, a PE ratio of 34.30, a P/E/G ratio of 2.11 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The company’s 50 day moving average is $47.16 and its 200-day moving average is $47.60. Brookfield Asset Management has a fifty-two week low of $42.20 and a fifty-two week high of $63.54.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.47 billion. As a group, analysts anticipate that Brookfield Asset Management will post 1.76 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Asset Management

Several institutional investors have recently made changes to their positions in the stock. Zions Bancorporation National Association UT grew its position in Brookfield Asset Management by 241.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 345 shares in the last quarter. LOM Asset Management Ltd acquired a new stake in shares of Brookfield Asset Management during the 4th quarter valued at $31,000. Allied Private Wealth LLC purchased a new position in shares of Brookfield Asset Management during the 2nd quarter valued at $40,000. Allworth Financial LP grew its holdings in shares of Brookfield Asset Management by 47.8% during the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 333 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Brookfield Asset Management by 709.8% in the fourth quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 937 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.