Brookfield Asset Management (NYSE:BAM) Price Target Raised to $52.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective upped by analysts at Piper Sandler from $49.00 to $52.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler‘s price objective points to a potential downside of 3.83% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley set a $54.00 target price on Brookfield Asset Management in a report on Friday, October 16th. UBS Group lowered their price target on Brookfield Asset Management from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft raised their price objective on Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada set a $65.00 target price on Brookfield Asset Management and gave the company an “outperform” rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.19.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock traded up $1.12 on Monday, reaching $54.07. 587,934 shares of the stock were exchanged, compared to its average volume of 3,160,852. The firm’s 50 day moving average is $47.18 and its 200-day moving average is $47.86. Brookfield Asset Management has a one year low of $42.20 and a one year high of $55.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $88.59 billion, a PE ratio of 18.52, a P/E/G ratio of 2.24 and a beta of 1.27.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Saturday, November 7th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $1.60 billion. Brookfield Asset Management had a net margin of 71.24% and a return on equity of 32.71%. As a group, analysts anticipate that Brookfield Asset Management will post 1.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BAM. Moors & Cabot Inc. grew its position in Brookfield Asset Management by 59.0% during the 3rd quarter. Moors & Cabot Inc. now owns 8,569 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 3,178 shares during the last quarter. Fisher Asset Management LLC acquired a new position in Brookfield Asset Management in the 3rd quarter worth about $207,000. Maryland State Retirement & Pension System increased its holdings in Brookfield Asset Management by 15.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 22,834 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 3,033 shares in the last quarter. AlphaCore Capital LLC bought a new position in Brookfield Asset Management in the third quarter valued at about $224,000. Finally, Brighton Jones LLC raised its position in Brookfield Asset Management by 13.8% in the third quarter. Brighton Jones LLC now owns 7,742 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 940 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager that invests in and manages assets on behalf of institutional and private wealth clients. Its investment strategies span infrastructure, renewable power and transition, private equity, real estate, and credit.

The company operates across North America, South America, Europe, the Middle East, and Asia-Pacific. Its businesses invest in and manage assets such as energy and transportation infrastructure, renewable power facilities, real estate, and companies across a range of industries.

Brookfield Asset Management became a separately listed company in 2022, following the separation of Brookfield Corporation’s asset management business.