Brookfield Asset Management (NYSE:BAM) Given New $49.00 Price Target at Keefe, Bruyette & Woods

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price lifted by research analysts at Keefe, Bruyette & Woods from $44.00 to $49.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential downside of 13.44% from the company’s current price.

A number of other brokerages have also recently issued reports on BAM. JPMorgan Chase & Co. decreased their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. CIBC upped their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a report on Friday, July 19th. Bank of America upped their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Jefferies Financial Group started coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and a consensus target price of $50.88.

Brookfield Asset Management Trading Up 3.4 %

NYSE BAM traded up $1.84 during mid-day trading on Tuesday, reaching $56.61. 577,621 shares of the company’s stock traded hands, compared to its average volume of 1,271,987. Brookfield Asset Management has a 1-year low of $30.59 and a 1-year high of $57.36. The company has a fifty day simple moving average of $47.19 and a 200-day simple moving average of $42.32. The company has a market cap of $25.15 billion, a price-to-earnings ratio of 51.43, a P/E/G ratio of 2.55 and a beta of 1.42.

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, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter last year, the business posted $0.35 EPS. Equities research analysts forecast that Brookfield Asset Management will post 1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in shares of Brookfield Asset Management by 2.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 194,158 shares of the financial services provider’s stock valued at $8,159,000 after acquiring an additional 4,820 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Brookfield Asset Management by 574.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 758 shares during the period. SG Americas Securities LLC bought a new stake in shares of Brookfield Asset Management in the 1st quarter worth approximately $137,000. JCIC Asset Management Inc. lifted its position in shares of Brookfield Asset Management by 1.0% in the 1st quarter. JCIC Asset Management Inc. now owns 81,850 shares of the financial services provider’s stock worth $3,440,000 after acquiring an additional 840 shares during the period. Finally, Karpas Strategies LLC lifted its position in shares of Brookfield Asset Management by 0.7% in the 1st quarter. Karpas Strategies LLC now owns 263,513 shares of the financial services provider’s stock worth $11,073,000 after acquiring an additional 1,821 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

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.