Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price lifted by Keefe, Bruyette & Woods from $49.00 to $57.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 5.13% from the company’s previous close.

Several other brokerages have also issued reports on BAM. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. 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 report on Thursday, December 12th. UBS Group assumed coverage on shares of Brookfield Asset Management in a report on Monday. They set a “buy” rating on the stock. Scotiabank upped their target price on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada increased their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus price target of $54.54.

Brookfield Asset Management Stock Up 0.8 %

Shares of NYSE BAM opened at $54.22 on Friday. Brookfield Asset Management has a twelve month low of $37.19 and a twelve month high of $59.58. The stock has a market cap of $24.02 billion, a price-to-earnings ratio of 47.98, a P/E/G ratio of 2.43 and a beta of 1.41. The company’s fifty day moving average is $55.00 and its 200-day moving average is $46.23.

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 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 analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $0.35 earnings per share. On average, research analysts anticipate that Brookfield Asset Management will post 1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Asset Management by 68.5% during the 2nd 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 in the last quarter. Mackenzie Financial Corp lifted its stake in Brookfield Asset Management by 19.5% in the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock valued at $514,867,000 after purchasing an additional 2,205,040 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in Brookfield Asset Management during the second quarter worth about $42,160,000. TD Asset Management Inc increased its position in Brookfield Asset Management by 8.5% during the second 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, Connor Clark & Lunn Investment Management Ltd. raised its stake in Brookfield Asset Management by 66.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after buying an additional 784,250 shares during the period. 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.