Brookfield Asset Management (NYSE:BAM) Given New $50.00 Price Target at BMO Capital Markets

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective hoisted by stock analysts at BMO Capital Markets from $40.00 to $50.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target indicates a potential downside of 12.22% from the company’s previous close.

Several other research analysts also recently commented on BAM. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Jefferies Financial Group began coverage on Brookfield Asset Management in a research report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price for the company. Royal Bank of Canada upped their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wells Fargo & Company boosted their price objective on Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday. Finally, Bank of America upped their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $56.96 on Tuesday. Brookfield Asset Management has a fifty-two week low of $30.59 and a fifty-two week high of $57.36. The stock has a market cap of $25.30 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42. The stock has a fifty day moving average of $47.78 and a 200-day moving average of $42.55.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned $0.35 EPS. On average, sell-side analysts predict that Brookfield Asset Management will post 1.43 EPS for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds have recently made changes to their positions in BAM. Hara Capital LLC bought a new position in shares of Brookfield Asset Management during the 3rd quarter valued at $27,000. Massmutual Trust Co. FSB ADV lifted its stake in Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 385 shares during the last quarter. Continuum Advisory LLC boosted its position in Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake 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 valued at $37,000 after buying an additional 758 shares during the last quarter. Finally, Richardson Financial Services Inc. increased its holdings in shares of Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after buying an additional 755 shares during the period. 68.41% of the stock is currently owned by 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.