Brookfield Asset Management (NYSE:BAM) Price Target Raised to $63.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target boosted by Scotiabank from $59.50 to $63.00 in a report issued on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods cut their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. Royal Bank of Canada raised their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Finally, UBS Group began coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. Three equities 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.42.

Brookfield Asset Management Stock Performance

BAM opened at $57.75 on Monday. The company has a market cap of $25.59 billion, a price-to-earnings ratio of 51.11, a PEG ratio of 2.26 and a beta of 1.46. Brookfield Asset Management has a one year low of $37.29 and a one year high of $62.61. The business’s fifty day moving average is $56.44 and its two-hundred day moving average is $50.32.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the business posted $0.35 earnings per share. On average, analysts predict that Brookfield Asset Management will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors have recently modified their holdings of the business. Hara Capital LLC bought a new stake in Brookfield Asset Management in the third quarter valued at $27,000. RPg Family Wealth Advisory LLC bought a new stake in Brookfield Asset Management in the 3rd quarter valued at about $27,000. Versant Capital Management Inc lifted its position in Brookfield Asset Management by 1,606.3% in the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 771 shares during the last quarter. Continuum Advisory LLC boosted its stake in Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 329 shares during the period. Finally, Quent Capital LLC grew its position in Brookfield Asset Management by 62.1% in the 3rd quarter. Quent Capital LLC now owns 1,135 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 435 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

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.