Brookfield Asset Management (NYSE:BAM) Price Target Raised to $55.00 at JPMorgan Chase & Co.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $51.00 to $55.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 3.44% from the company’s previous close.

Several other research analysts have also weighed in on the stock. TD Securities lifted their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods dropped their target price on 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. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Tuesday, April 15th. Bank of America raised Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Thursday, April 10th. Finally, Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.77.

Brookfield Asset Management Trading Up 2.1 %

Shares of NYSE BAM opened at $56.96 on Wednesday. The company has a 50-day moving average of $49.60 and a two-hundred day moving average of $53.99. Brookfield Asset Management has a 1-year low of $37.29 and a 1-year high of $62.61. The company has a market cap of $93.26 billion, a PE ratio of 43.15, a P/E/G ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.29 billion. As a group, equities research analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of large investors have recently bought and sold shares of BAM. Bank of Montreal Can boosted its holdings in shares of Brookfield Asset Management by 3.7% in the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock valued at $518,655,000 after purchasing an additional 339,072 shares in the last quarter. TD Asset Management Inc. increased its stake in shares of Brookfield Asset Management by 8.9% in the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock valued at $903,323,000 after buying an additional 1,359,126 shares during the period. American Century Companies Inc. raised its stake in shares of Brookfield Asset Management by 30.5% during the fourth quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider’s stock valued at $4,033,000 after acquiring an additional 17,369 shares during the last quarter. Laffer Tengler Investments Inc. raised its position in Brookfield Asset Management by 24.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock worth $8,008,000 after purchasing an additional 28,768 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its stake in shares of Brookfield Asset Management by 173.7% in the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock worth $564,000 after acquiring an additional 6,580 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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.