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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective boosted by stock analysts at BMO Capital Markets from $37.00 to $40.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target would suggest a potential downside of 6.39% from the company’s previous close.

Several other research analysts also recently commented on BAM. Scotiabank reduced their price target on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Jefferies Financial Group assumed coverage on Brookfield Asset Management in a report on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.79.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $42.73 on Wednesday. Brookfield Asset Management has a 1-year low of $28.35 and a 1-year high of $44.38. The company’s 50-day moving average is $40.76 and its 200 day moving average is $40.20. The firm has a market capitalization of $18.96 billion, a P/E ratio of 39.56, a price-to-earnings-growth ratio of 2.09 and a beta of 1.57.

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

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently modified their holdings of the company. YHB Investment Advisors Inc. acquired a new position in Brookfield Asset Management in the 1st quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 385 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 758 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its position in Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 755 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

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.