Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price boosted by Keefe, Bruyette & Woods from $49.00 to $57.00 in a report issued on Friday, Marketbeat.com reports. The brokerage presently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 4.74% from the stock’s current price.

Several other equities research analysts have also recently issued reports on BAM. The Goldman Sachs Group raised their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Bank of America raised their price objective on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company upped their target price on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, December 12th. UBS Group started coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating for the company. Finally, StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $54.54.

Brookfield Asset Management Stock Up 0.4 %

NYSE BAM opened at $54.42 on Friday. Brookfield Asset Management has a 52 week low of $37.19 and a 52 week high of $59.58. The business’s fifty day simple moving average is $55.11 and its 200-day simple moving average is $46.38. The firm has a market cap of $24.11 billion, a PE ratio of 48.16, a P/E/G ratio of 2.43 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 49.69% and a return on equity of 85.03%. During the same period in the previous year, the firm earned $0.35 earnings per share. Research analysts expect that Brookfield Asset Management will post 1.47 EPS for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its holdings in Brookfield Asset Management by 68.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after buying an additional 2,788,611 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Brookfield Asset Management by 19.5% during the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after acquiring an additional 2,205,040 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Brookfield Asset Management in the 2nd quarter valued at about $42,160,000. TD Asset Management Inc raised its position in shares of Brookfield Asset Management by 8.5% during the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock worth $515,823,000 after acquiring an additional 1,066,015 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after acquiring an additional 784,250 shares in the last quarter. 68.41% of the stock is 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.