Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) had its price target decreased by analysts at Keefe, Bruyette & Woods from $57.00 to $56.00 in a report released on Monday, MarketBeat.com reports. The brokerage presently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 5.70% from the company’s previous close.
A number of other research firms have also recently commented on BAM. The Goldman Sachs Group increased their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. UBS Group initiated coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating on the stock. Royal Bank of Canada raised their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. TD Securities boosted their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company raised their target price on Brookfield Asset Management from $51.00 to $56.00 and gave the stock an “underweight” rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.38.
View Our Latest Stock Analysis on Brookfield Asset Management
Brookfield Asset Management Trading Up 2.0 %
Brookfield Asset Management (NYSE:BAM – Get Free Report) (TSE:BAM.A) last posted its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business posted $0.35 EPS. On average, equities analysts predict that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.
Institutional Trading of Brookfield Asset Management
Hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of Brookfield Asset Management by 68.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock valued at $260,770,000 after purchasing an additional 2,788,611 shares during the period. Mackenzie Financial Corp raised its holdings 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 acquiring an additional 2,205,040 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Brookfield Asset Management in the 2nd quarter worth approximately $42,160,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Brookfield Asset Management by 66.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after purchasing an additional 784,250 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Brookfield Asset Management in the third quarter valued at approximately $19,075,000. 68.41% of the stock is 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.
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