Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, Scotiabank Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target increased by analysts at Scotiabank from $59.50 to $63.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price target points to a potential upside of 10.17% from the stock’s previous close.

Several other analysts have also commented on BAM. Keefe, Bruyette & Woods dropped their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. UBS Group started coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating on the stock. Wells Fargo & Company decreased their target price on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. CIBC increased their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and an average target price of $56.42.

Brookfield Asset Management Price Performance

NYSE:BAM opened at $57.18 on Monday. The company’s fifty day moving average price is $56.45 and its 200-day moving average price is $50.20. Brookfield Asset Management has a 1-year low of $37.29 and a 1-year high of $62.61. The firm has a market capitalization of $25.34 billion, a P/E ratio of 50.60, a PEG ratio of 2.26 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same period last year, the firm earned $0.35 EPS. Equities analysts anticipate that Brookfield Asset Management will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Brookfield Asset Management by 11.6% during the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock valued at $77,293,000 after acquiring an additional 168,170 shares during the last quarter. Avior Wealth Management LLC raised its stake in Brookfield Asset Management by 2,857.1% in the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Brookfield Asset Management by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock valued at $39,516,000 after purchasing an additional 45,670 shares during the last quarter. LGT Capital Partners LTD. lifted its holdings in Brookfield Asset Management by 11.5% in the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock valued at $25,273,000 after purchasing an additional 55,000 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Brookfield Asset Management by 10.3% during the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after purchasing an additional 370,383 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

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.