The Goldman Sachs Group Raises Brookfield Asset Management (NYSE:BAM) Price Target to $63.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective upped by equities researchers at The Goldman Sachs Group from $57.00 to $63.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 14.55% from the company’s current price.

BAM has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America upped their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Scotiabank upped their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. Finally, BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Three investment 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.46.

Brookfield Asset Management Stock Down 1.2 %

Shares of BAM opened at $55.00 on Tuesday. The company’s fifty day moving average is $50.71 and its 200-day moving average is $43.74. Brookfield Asset Management has a 12 month low of $33.06 and a 12 month high of $58.53. The firm has a market cap of $24.36 billion, a price-to-earnings ratio of 48.67, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business posted $0.35 EPS. As a group, research analysts predict that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in BAM. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Asset Management by 68.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after acquiring an additional 2,788,611 shares during the period. Mackenzie Financial Corp increased its position in shares of Brookfield Asset Management by 19.5% during the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after purchasing an additional 2,205,040 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Brookfield Asset Management during the 2nd quarter worth about $42,160,000. TD Asset Management Inc increased its position in shares of 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 worth $515,823,000 after purchasing an additional 1,066,015 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Brookfield Asset Management by 66.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after acquiring an additional 784,250 shares in the last quarter. 68.41% of the stock is 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.