Brookfield Asset Management (NYSE:BAM) PT Raised to $46.00 at Scotiabank

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price boosted by research analysts at Scotiabank from $44.50 to $46.00 in a research report issued on Thursday, BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price target would suggest a potential upside of 9.68% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada increased their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Tuesday. CIBC raised their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Brookfield Asset Management from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average price target of $42.55.

Brookfield Asset Management Stock Down 3.9 %

Shares of Brookfield Asset Management stock traded down $1.69 during trading on Thursday, reaching $41.94. The company’s stock had a trading volume of 352,194 shares, compared to its average volume of 1,333,044. Brookfield Asset Management has a 52 week low of $28.35 and a 52 week high of $44.38. The business’s 50-day moving average price is $39.53 and its 200-day moving average price is $40.07. The firm has a market cap of $18.61 billion, a PE ratio of 38.83, a P/E/G ratio of 2.01 and a beta of 1.62.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $884.00 million during the quarter. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. Equities analysts predict that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BAM. Beutel Goodman & Co Ltd. raised its position in shares of Brookfield Asset Management by 114.5% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 6,922,224 shares of the financial services provider’s stock valued at $279,387,000 after purchasing an additional 3,695,774 shares during the period. National Bank of Canada FI raised its holdings in shares of Brookfield Asset Management by 15.5% in the 1st quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock valued at $31,742,000 after purchasing an additional 107,245 shares in the last quarter. Wells Fargo & Company MN grew its position in Brookfield Asset Management by 17.1% during the 4th quarter. Wells Fargo & Company MN now owns 692,801 shares of the financial services provider’s stock worth $27,842,000 after purchasing an additional 100,997 shares during the last quarter. Hsbc Holdings PLC grew its position in Brookfield Asset Management by 42.4% during the 4th quarter. Hsbc Holdings PLC now owns 628,945 shares of the financial services provider’s stock worth $25,265,000 after purchasing an additional 187,250 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Brookfield Asset Management by 127.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 62,914 shares of the financial services provider’s stock valued at $2,537,000 after acquiring an additional 35,300 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

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.