Brookfield Asset Management (NYSE:BAM) Price Target Raised to $45.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target raised by Bank of America from $41.00 to $45.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price objective indicates a potential upside of 0.33% from the company’s current price.

A number of other research analysts have also weighed in on the company. CIBC raised their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a report on Friday, July 19th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. 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 report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group upped their price objective on shares of Brookfield Asset Management from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.81.

Brookfield Asset Management Trading Up 0.3 %

Shares of BAM stock opened at $44.85 on Thursday. The firm has a fifty day simple moving average of $41.11 and a two-hundred day simple moving average of $40.29. Brookfield Asset Management has a 12 month low of $28.35 and a 12 month high of $45.24. The firm has a market capitalization of $19.91 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56.

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

Institutional Trading of Brookfield Asset Management

Large investors have recently bought and sold shares of the company. Partners Value Investments L.P. increased its stake in shares of Brookfield Asset Management by 0.9% in 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 purchasing an additional 280,098 shares in the last quarter. Capital World Investors grew its stake in Brookfield Asset Management by 10.0% in the 4th quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider’s stock valued at $986,656,000 after buying an additional 2,241,372 shares in the last quarter. TD Asset Management Inc raised its holdings in Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after acquiring an additional 1,066,015 shares during the period. Mackenzie Financial Corp lifted its position in shares of 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 worth $514,867,000 after acquiring an additional 2,205,040 shares in the last quarter. Finally, FIL Ltd lifted its position in shares of 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 acquiring an additional 4,501,410 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other 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.