Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective raised by investment analysts at Royal Bank of Canada from $55.00 to $68.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 19.38% from the company’s current price.

BAM has been the topic of a number of other research reports. Wells Fargo & Company raised their target price on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the company an “underweight” rating in a research note on Tuesday. The Goldman Sachs Group raised their price objective on Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, September 30th. BMO Capital Markets upped their target price on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th. Jefferies Financial Group began coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Brookfield Asset Management from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Trading Up 2.5 %

BAM stock opened at $56.96 on Tuesday. The stock has a 50-day moving average price of $47.78 and a two-hundred day moving average price of $42.55. The company has a market cap of $25.30 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42. Brookfield Asset Management has a 12-month low of $30.59 and a 12-month high of $57.36.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted 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 51.29% and a return on equity of 92.37%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company earned $0.35 EPS. Equities analysts forecast that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Institutional Trading of Brookfield Asset Management

Several institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Asset Management by 68.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after purchasing an additional 2,788,611 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Brookfield Asset Management by 19.5% in the second quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after buying an additional 2,205,040 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Brookfield Asset Management during the second quarter valued at approximately $42,160,000. TD Asset Management Inc lifted its holdings in 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 buying an additional 1,066,015 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Brookfield Asset Management by 49.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,779,015 shares of the financial services provider’s stock worth $74,802,000 after acquiring an additional 591,130 shares in 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.