Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price target upped by equities researchers at The Goldman Sachs Group from $57.00 to $63.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. The Goldman Sachs Group's price objective suggests a potential upside of 13.17% from the company's previous close.

BAM has been the topic of a number of other reports. Jefferies Financial Group assumed coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a "hold" rating and a $43.00 target price on the stock. Royal Bank of Canada raised their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. cut their target price on Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets raised their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the company a "market perform" rating in a research note on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods raised their target price on Brookfield Asset Management from $44.00 to $49.00 and gave the company an "underperform" rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $53.46.

Brookfield Asset Management Price Performance

BAM traded up $0.20 during trading hours on Tuesday, hitting $55.67. 968,367 shares of the stock were exchanged, compared to its average volume of 1,264,153. The stock has a 50-day simple moving average of $50.50 and a 200-day simple moving average of $43.66. Brookfield Asset Management has a 12 month low of $33.06 and a 12 month high of $58.53. The stock has a market cap of $24.66 billion, a price-to-earnings ratio of 49.27, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period last year, the business posted $0.35 earnings per share. Sell-side analysts expect that Brookfield Asset Management will post 1.45 EPS for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently bought and sold shares of the business. National Bank of Canada FI raised its position in Brookfield Asset Management by 15.5% in the first quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider's stock worth $31,742,000 after acquiring an additional 107,245 shares in the last quarter. Confluence Investment Management LLC increased its stake in Brookfield Asset Management by 382.6% in the 2nd quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider's stock worth $3,420,000 after purchasing an additional 71,263 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Brookfield Asset Management in the 1st quarter worth about $3,014,000. Intact Investment Management Inc. purchased a new position in Brookfield Asset Management in the 2nd quarter worth about $4,825,000. Finally, CIBC Asset Management Inc increased its stake in Brookfield Asset Management by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider's stock worth $188,057,000 after purchasing an additional 370,383 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

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.