Brookfield Asset Management (NYSE:BAM) Price Target Raised to $66.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price increased by TD Securities from $64.00 to $66.00 in a report published on Monday,BayStreet.CA reports. TD Securities currently has a buy rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on BAM. Deutsche Bank Aktiengesellschaft lifted their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods lowered their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group lifted their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Finally, Royal Bank of Canada lifted their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.58.

Brookfield Asset Management Trading Down 0.6 %

Shares of BAM opened at $57.59 on Monday. Brookfield Asset Management has a 1-year low of $37.29 and a 1-year high of $62.61. The business’s 50-day moving average price is $56.48 and its 200 day moving average price is $50.65. The stock has a market capitalization of $25.52 billion, a P/E ratio of 50.96, a P/E/G ratio of 2.18 and a beta of 1.46.

Institutional Investors Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAM. William Blair Investment Management LLC acquired a new stake in Brookfield Asset Management in the 4th quarter worth approximately $204,169,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider’s stock worth $216,507,000 after purchasing an additional 2,031,995 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Brookfield Asset Management in the 3rd quarter worth approximately $19,075,000. CIBC Asset Management Inc lifted its holdings in shares of Brookfield Asset Management by 10.3% during the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after buying an additional 370,383 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Brookfield Asset Management by 5,331.6% during the fourth quarter. Proficio Capital Partners LLC now owns 351,205 shares of the financial services provider’s stock worth $19,032,000 after buying an additional 344,739 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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.