Brookfield Asset Management (NYSE:BAM) Price Target Raised to $66.00 at TD Securities

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target hoisted by TD Securities from $64.00 to $66.00 in a report issued on Monday morning,BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

Several other brokerages have also recently commented on BAM. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. UBS Group started coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating on the stock. The Goldman Sachs Group boosted their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company dropped their target price on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Hold” and a consensus price target of $56.58.

Brookfield Asset Management Trading Down 1.0 %

BAM opened at $55.10 on Monday. The business’s 50 day moving average is $56.45 and its 200-day moving average is $50.86. The stock has a market cap of $24.42 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. As a group, analysts forecast that Brookfield Asset Management will post 1.45 EPS for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Brookfield Asset Management by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after purchasing an additional 263,660 shares in the last quarter. TD Asset Management Inc. grew its position in Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after purchasing an additional 1,359,126 shares in the last quarter. Bank of Montreal Can grew 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 purchasing an additional 43,134 shares in the last quarter. Principal Financial Group Inc. grew its position in Brookfield Asset Management by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock worth $483,963,000 after purchasing an additional 62,908 shares in the last quarter. Finally, Norges Bank purchased a new position in Brookfield Asset Management during the 4th quarter worth approximately $287,361,000. 68.41% of the stock is currently owned by hedge funds and other 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.