Brookfield Asset Management (NYSE:BAM) PT Raised to $61.00 at TD Securities

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its target price boosted by equities researchers at TD Securities from $50.00 to $61.00 in a research note issued on Tuesday, BayStreet.CA reports. The firm presently has a "buy" rating on the financial services provider's stock. TD Securities' price objective would indicate a potential upside of 13.91% from the company's current price.

BAM has been the topic of a number of other research reports. Scotiabank decreased their price objective on Brookfield Asset Management from $46.00 to $45.50 and set a "sector outperform" rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group raised their target price on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Jefferies Financial Group initiated coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a "hold" rating and a $43.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on Brookfield Asset Management from $42.00 to $41.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. Finally, CIBC increased their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an "outperformer" rating in a research report on Friday, July 19th. Two equities 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $47.41.

Brookfield Asset Management Stock Up 0.3 %

Shares of NYSE BAM traded up $0.17 during midday trading on Tuesday, hitting $53.55. The company had a trading volume of 1,374,560 shares, compared to its average volume of 1,265,019. The business has a 50-day simple moving average of $45.89 and a two-hundred day simple moving average of $41.80. Brookfield Asset Management has a twelve month low of $28.35 and a twelve month high of $53.73. The firm has a market capitalization of $23.76 billion, a price-to-earnings ratio of 49.55, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The firm had revenue of $916.00 million for the quarter, compared to analysts' expectations of $1.16 billion. During the same period last year, the firm earned $0.28 EPS. On average, equities analysts forecast that Brookfield Asset Management will post 1.43 EPS for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Large investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV increased its holdings in shares of Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider's stock worth $30,000 after acquiring an additional 385 shares during the period. Continuum Advisory LLC raised its holdings in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider's stock valued at $30,000 after buying an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider's stock worth $37,000 after buying an additional 758 shares during the period. Richardson Financial Services Inc. increased its position in Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 755 shares during the period. Finally, WASHINGTON TRUST Co increased its position in Brookfield Asset Management by 151.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 640 shares during the period. Institutional investors own 68.41% of the company's stock.

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.