Brookfield Asset Management (NYSE:BAM) Given New $45.00 Price Target at Bank of America

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective upped by equities research analysts at Bank of America from $41.00 to $45.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price target suggests a potential upside of 1.86% from the stock’s current price.

Several other analysts have also issued reports on BAM. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets lifted their target price on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday. Jefferies Financial Group began coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price on the stock. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their price target on shares of Brookfield Asset Management from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and a consensus price target of $43.81.

Brookfield Asset Management Trading Down 0.2 %

Brookfield Asset Management stock traded down $0.09 during mid-day trading on Thursday, hitting $44.18. The stock had a trading volume of 813,852 shares, compared to its average volume of 1,308,676. The firm has a market capitalization of $19.60 billion, a P/E ratio of 40.91, a P/E/G ratio of 2.09 and a beta of 1.56. The firm’s 50 day moving average is $40.87 and its 200 day moving average is $40.23. Brookfield Asset Management has a one year low of $28.35 and a one year high of $44.65.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same quarter last year, the business earned $0.28 earnings per share. As a group, equities research analysts forecast that Brookfield Asset Management will post 1.42 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently bought and sold shares of BAM. YHB Investment Advisors Inc. acquired a new stake in Brookfield Asset Management in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV lifted its holdings in Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 385 shares during the last quarter. Continuum Advisory LLC lifted its holdings in Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after buying an additional 758 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its stake in Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after buying an additional 755 shares in the last quarter. 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.