Brookfield Asset Management Ltd. (NYSE:BAM) Receives $56.42 Consensus PT from Analysts

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) has been assigned a consensus rating of “Hold” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $56.42.

A number of equities research analysts have recently issued reports on BAM shares. Keefe, Bruyette & Woods lowered their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research note on Monday, January 13th. TD Securities increased their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company decreased their target price on shares of Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. CIBC lifted their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Scotiabank upped their price objective on shares of Brookfield Asset Management from $59.50 to $63.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its position in Brookfield Asset Management by 0.5% during the 3rd quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock worth $435,729,000 after buying an additional 43,134 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Brookfield Asset Management by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock valued at $483,963,000 after acquiring an additional 62,908 shares during the last quarter. CIBC Asset Management Inc raised its holdings in 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 acquiring an additional 370,383 shares in the last quarter. Douglass Winthrop Advisors LLC boosted its position in Brookfield Asset Management by 3.9% during the third quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock valued at $126,287,000 after purchasing an additional 99,020 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased 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 purchasing an additional 784,250 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $57.91 on Friday. Brookfield Asset Management has a 1 year low of $37.29 and a 1 year high of $62.61. The firm has a 50 day moving average price of $56.48 and a 200 day moving average price of $50.59. The company has a market cap of $25.66 billion, a price-to-earnings ratio of 51.25, a PEG ratio of 2.18 and a beta of 1.46.

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.