Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) had its price target raised by research analysts at National Bank Financial from $69.00 to $70.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price objective would indicate a potential upside of 32.46% from the stock’s current price.
Other research analysts have also recently issued research reports about the stock. Piper Sandler restated a “neutral” rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Asset Management in a research report on Monday, May 18th. Scotiabank reissued an “outperform” rating and issued a $59.00 price objective on shares of Brookfield Asset Management in a report on Thursday. Royal Bank Of Canada lowered their target price on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Scotia boosted their price target on Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research report on Thursday. Finally, Wall Street Zen cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $59.22.
View Our Latest Stock Report on Brookfield Asset Management
Brookfield Asset Management Stock Performance
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.47 billion. On average, sell-side analysts forecast that Brookfield Asset Management will post 1.76 EPS for the current fiscal year.
Institutional Trading of Brookfield Asset Management
Several institutional investors have recently modified their holdings of the company. Zions Bancorporation National Association UT grew its holdings in Brookfield Asset Management by 241.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 345 shares during the period. LOM Asset Management Ltd acquired a new stake in Brookfield Asset Management in the 4th quarter valued at about $31,000. Allied Private Wealth LLC acquired a new stake in Brookfield Asset Management in the 2nd quarter valued at about $40,000. Allworth Financial LP boosted its position in shares of Brookfield Asset Management by 47.8% during the 4th quarter. Allworth Financial LP now owns 1,029 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 333 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Brookfield Asset Management by 709.8% during the 4th quarter. Fifth Third Bancorp now owns 1,069 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 937 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.
Brookfield Asset Management Company Profile
Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.
The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.
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