Brookfield Asset Management (NYSE:BAM) Price Target Raised to $57.00

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price objective hoisted by equities research analysts at Keefe, Bruyette & Woods from $49.00 to $57.00 in a report released on Friday, Marketbeat.com reports. The firm currently has an "underperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 4.74% from the company's current price.

Other equities research analysts also recently issued reports about the company. TD Securities upped their target price on Brookfield Asset Management from $61.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Scotiabank upped their target price on Brookfield Asset Management from $55.50 to $59.50 and gave the company a "sector outperform" rating in a report on Tuesday, November 5th. UBS Group assumed coverage on Brookfield Asset Management in a research note on Monday. They issued a "buy" rating on the stock. Royal Bank of Canada upped their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company upped their price target 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $54.54.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock traded up $0.20 during trading hours on Friday, reaching $54.42. The company's stock had a trading volume of 1,113,339 shares, compared to its average volume of 1,231,958. The stock has a market cap of $24.11 billion, a P/E ratio of 48.16, a price-to-earnings-growth ratio of 2.43 and a beta of 1.41. Brookfield Asset Management has a one year low of $37.19 and a one year high of $59.58. The company's 50 day simple moving average is $55.00 and its 200 day simple moving average is $46.23.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $0.35 EPS. On average, sell-side analysts predict that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors have recently made changes to their positions in the company. Public Sector Pension Investment Board lifted its stake in shares of Brookfield Asset Management by 0.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider's stock valued at $2,201,000 after purchasing an additional 188 shares during the last quarter. Pathstone Holdings LLC lifted its position in shares of Brookfield Asset Management by 1.0% in the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider's stock worth $1,379,000 after buying an additional 278 shares during the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Brookfield Asset Management by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider's stock worth $315,000 after buying an additional 315 shares during the last quarter. Continuum Advisory LLC boosted its stake in shares of Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock worth $52,000 after acquiring an additional 329 shares in the last quarter. Finally, Procyon Advisors LLC increased its holdings in shares of Brookfield Asset Management by 4.2% during the 3rd quarter. Procyon Advisors LLC now owns 9,063 shares of the financial services provider's stock valued at $429,000 after acquiring an additional 366 shares during the last quarter. 68.41% of the stock is currently 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.