BMO Capital Markets Increases Brookfield Asset Management (NYSE:BAM) Price Target to $53.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price hoisted by equities researchers at BMO Capital Markets from $50.00 to $53.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target suggests a potential downside of 7.62% from the company’s current price.

Several other research firms also recently issued reports on BAM. UBS Group assumed coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating for the company. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Keefe, Bruyette & Woods reduced their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group boosted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Three equities 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.71.

Brookfield Asset Management Trading Up 4.1 %

BAM traded up $2.25 during trading on Thursday, hitting $57.37. 783,357 shares of the company’s stock were exchanged, compared to its average volume of 1,365,314. Brookfield Asset Management has a 1 year low of $37.29 and a 1 year high of $62.61. The stock has a 50 day moving average price of $56.41 and a 200 day moving average price of $50.89. The firm has a market cap of $25.42 billion, a P/E ratio of 50.68, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. Analysts forecast that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Asset Management

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tandem Capital Management Corp ADV raised its holdings in shares of Brookfield Asset Management by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock worth $2,119,000 after purchasing an additional 175 shares during the period. Public Sector Pension Investment Board grew its position in shares of Brookfield Asset Management by 0.4% during the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after acquiring an additional 188 shares during the last quarter. Gold Investment Management Ltd. grew its position in shares of Brookfield Asset Management by 0.5% during the fourth quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock worth $2,271,000 after acquiring an additional 219 shares during the last quarter. Procyon Advisors LLC grew its position in shares of Brookfield Asset Management by 2.7% during the fourth quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock worth $505,000 after acquiring an additional 249 shares during the last quarter. Finally, Pathstone Holdings LLC grew its position in shares of Brookfield Asset Management by 1.0% during the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider’s stock worth $1,379,000 after acquiring an additional 278 shares during the last quarter. 68.41% of the stock is 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.