Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, CIBC Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective upped by investment analysts at CIBC from $63.00 to $70.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. CIBC’s price target points to a potential upside of 16.79% from the company’s previous close.

A number of other equities research analysts have also recently commented on BAM. Royal Bank of Canada boosted 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. UBS Group initiated coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods lowered their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. Finally, BMO Capital Markets increased their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $56.13.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $59.94 on Thursday. The firm has a market capitalization of $26.56 billion, a P/E ratio of 53.04, a price-to-earnings-growth ratio of 2.32 and a beta of 1.45. The company’s 50-day moving average is $56.32 and its 200 day moving average is $49.84. Brookfield Asset Management has a 1-year low of $37.29 and a 1-year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $0.35 EPS. Research analysts anticipate that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Asset Management

Several institutional investors and hedge funds have recently made changes to their positions in BAM. Global Retirement Partners LLC lifted its stake in shares of Brookfield Asset Management by 170.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider’s stock valued at $76,000 after buying an additional 887 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Brookfield Asset Management by 2.3% during the fourth quarter. Sanctuary Advisors LLC now owns 20,617 shares of the financial services provider’s stock worth $1,117,000 after purchasing an additional 462 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Brookfield Asset Management by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock valued at $483,963,000 after purchasing an additional 62,908 shares during the period. Blue Zone Wealth Advisors LLC increased its stake in Brookfield Asset Management by 1.4% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 152,107 shares of the financial services provider’s stock valued at $8,243,000 after purchasing an additional 2,038 shares during the last quarter. Finally, Principal Securities Inc. lifted its position in Brookfield Asset Management by 5.4% during the fourth quarter. Principal Securities Inc. now owns 8,291 shares of the financial services provider’s stock worth $449,000 after buying an additional 427 shares during the period. 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.