Brookfield Asset Management (NYSE:BAM) Price Target Raised to $40.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price hoisted by equities research analysts at BMO Capital Markets from $37.00 to $40.00 in a research note issued on Wednesday, MarketBeat.com reports. The firm presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 10.51% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. decreased their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective on the stock. TD Securities increased their target price on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Finally, Scotiabank reduced their price objective on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and a consensus target price of $43.81.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $44.70 on Wednesday. The company has a market capitalization of $19.84 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 2.09 and a beta of 1.56. Brookfield Asset Management has a 52-week low of $28.35 and a 52-week high of $44.82. The company has a 50-day simple moving average of $40.98 and a two-hundred day simple moving average of $40.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same period in the prior year, the company earned $0.28 earnings per share. On average, sell-side analysts forecast that Brookfield Asset Management will post 1.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently modified their holdings of BAM. Partners Value Investments L.P. grew its stake in 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 valued at $1,237,556,000 after acquiring an additional 280,098 shares in the last quarter. Capital World Investors increased its holdings in shares of 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. TD Asset Management Inc raised its position in shares of Brookfield Asset Management by 8.5% in the second quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after buying an additional 1,066,015 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Brookfield Asset Management by 19.5% during the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after buying an additional 2,205,040 shares during the period. Finally, FIL Ltd grew its position in Brookfield Asset Management by 66.1% during the fourth 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 in the last quarter. 68.41% of the stock is currently owned by institutional investors.

Brookfield Asset Management Company Profile

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.