Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) had its target price boosted by investment analysts at Scotia from $59.00 to $60.50 in a research report issued on Monday, BayStreet reports. The firm presently has a “sector outperform” rating on the financial services provider’s stock. Scotia‘s price target suggests a potential upside of 11.22% from the stock’s previous close.
Several other equities analysts have also issued reports on BAM. Scotiabank set a $60.50 price target on shares of Brookfield Asset Management and gave the stock a “sector outperform” rating in a report on Monday. Morgan Stanley set a $54.00 price objective on Brookfield Asset Management in a report on Friday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Brookfield Asset Management from $48.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Piper Sandler boosted their target price on Brookfield Asset Management from $49.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, UBS Group reduced their target price on Brookfield Asset Management from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.41.
Check Out Our Latest Stock Analysis on BAM
Brookfield Asset Management Stock Up 2.7%
Shares of NYSE:BAM traded up $1.45 during trading on Monday, reaching $54.40. The stock had a trading volume of 1,270,977 shares, compared to its average volume of 3,163,933. Brookfield Asset Management has a one year low of $42.20 and a one year high of $55.97. The company has a market capitalization of $89.12 billion, a P/E ratio of 18.63, a PEG ratio of 2.24 and a beta of 1.27. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $47.18 and its 200 day simple moving average is $47.86.
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last posted its quarterly earnings data on Saturday, November 7th. The financial services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. Brookfield Asset Management had a net margin of 71.24% and a return on equity of 32.71%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $1.60 billion. As a group, research analysts expect that Brookfield Asset Management will post 1.77 EPS for the current fiscal year.
Institutional Trading of Brookfield Asset Management
Several large investors have recently added to or reduced their stakes in BAM. Principal Financial Group Inc. increased its holdings in shares of Brookfield Asset Management by 62.0% in the first quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock valued at $566,092,000 after purchasing an additional 4,872,090 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Asset Management by 15.6% during the first quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider’s stock worth $236,308,000 after purchasing an additional 716,892 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of Brookfield Asset Management by 6.3% during the second quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider’s stock worth $227,422,000 after purchasing an additional 294,966 shares during the period. Bank of America Corp DE boosted its position in Brookfield Asset Management by 11.0% in the first quarter. Bank of America Corp DE now owns 3,448,351 shares of the financial services provider’s stock valued at $153,279,000 after buying an additional 341,600 shares during the last quarter. Finally, Madison Asset Management LLC purchased a new stake in Brookfield Asset Management in the second quarter valued at approximately $70,433,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.
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.
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