Brookfield Asset Management (NYSE:BAM) PT Raised to $52.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective raised by analysts at The Goldman Sachs Group from $47.00 to $52.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 9.31% from the stock’s current price.

A number of other research firms also recently commented on BAM. Wells Fargo & Company began coverage on shares of Brookfield Asset Management in a research report on Thursday, September 12th. They set an “underweight” rating and a $42.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Scotiabank decreased their price target on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research note on Thursday, August 8th. Bank of America boosted their price objective on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Jefferies Financial Group began coverage on Brookfield Asset Management in a report on Friday, August 2nd. They issued a “hold” rating and a $43.00 price objective for the company. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and a consensus price target of $44.19.

Brookfield Asset Management Stock Performance

Shares of NYSE BAM opened at $47.57 on Monday. Brookfield Asset Management has a 1 year low of $28.35 and a 1 year high of $48.03. The stock’s 50-day simple moving average is $42.57 and its 200-day simple moving average is $40.71. The firm has a market cap of $21.11 billion, a price-to-earnings ratio of 44.05, a PEG ratio of 2.36 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter last year, the business earned $0.28 earnings per share. As a group, research analysts predict that Brookfield Asset Management will post 1.42 EPS for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently bought and sold shares of BAM. YHB Investment Advisors Inc. acquired a new position in Brookfield Asset Management during the first quarter worth $26,000. Massmutual Trust Co. FSB ADV raised its holdings 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 period. Continuum Advisory LLC raised its holdings in Brookfield Asset Management by 57.6% in the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position 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 worth $37,000 after purchasing an additional 758 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its position in shares of Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after buying an additional 755 shares in 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.