Brookfield Asset Management (NYSE:BAM) Given a $65.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada set a $65 price target for Brookfield Asset Management and maintained an “outperform” rating, implying approximately 41% upside from the stock’s $45.97 price.
• Analyst views remain mixed: BAM has an average “Hold” rating and a consensus target price of $58.65, with targets ranging from $50 to $70.
• Brookfield slightly exceeded quarterly expectations, reporting $0.44 in earnings per share versus $0.43 expected and $1.49 billion in revenue versus $1.47 billion forecast. Institutional investors own 68.41% of the company.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A has been given a $65.00 target price by research analysts at Royal Bank Of Canada in a research note issued on Friday, BayStreet reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Royal Bank Of Canada's price target suggests a potential upside of 41.41% from the company's current price.

BAM has been the subject of several other reports. Piper Sandler restated a "neutral" rating and set a $50.00 target price (down from $53.00) on shares of Brookfield Asset Management in a report on Friday. Scotiabank reiterated an "outperform" rating and set a $59.00 price target on shares of Brookfield Asset Management in a report on Thursday, August 6th. Weiss Ratings reissued a "hold (c+)" rating on shares of Brookfield Asset Management in a report on Wednesday, August 12th. National Bank Financial boosted their price objective on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Finally, Morgan Stanley set a $56.00 price objective on shares of Brookfield Asset Management and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $58.65.

Brookfield Asset Management Price Performance

Shares of BAM traded up $0.55 during midday trading on Friday, reaching $45.97. The stock had a trading volume of 1,121,627 shares, compared to its average volume of 3,156,034. The company has a market capitalization of $75.30 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.85 and a beta of 1.27. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. Brookfield Asset Management has a 12-month low of $42.20 and a 12-month high of $62.57. The company's 50-day moving average is $49.84 and its 200 day moving average is $47.63.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.47 billion. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. On average, equities analysts predict that Brookfield Asset Management will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Baird Financial Group Inc. grew its position in Brookfield Asset Management by 131.4% in the 2nd quarter. Baird Financial Group Inc. now owns 45,809 shares of the financial services provider's stock worth $2,054,000 after purchasing an additional 26,011 shares during the period. Allworth Financial LP raised its stake in Brookfield Asset Management by 16.0% during the 2nd quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider's stock worth $133,000 after acquiring an additional 408 shares during the period. Waverly Advisors LLC raised its position in shares of Brookfield Asset Management by 11.8% during the 2nd quarter. Waverly Advisors LLC now owns 15,264 shares of the financial services provider's stock valued at $685,000 after purchasing an additional 1,608 shares during the period. Nykredit A S purchased a new position in shares of Brookfield Asset Management in the second quarter valued at about $2,689,000. Finally, HB Wealth Management LLC boosted its stake in Brookfield Asset Management by 12.5% in the 2nd quarter. HB Wealth Management LLC now owns 13,614 shares of the financial services provider's stock worth $611,000 after purchasing an additional 1,517 shares during the period. Hedge funds and other institutional investors own 68.41% of the company's stock.

About Brookfield Asset Management

Brookfield Asset Management Ltd. is a global alternative asset manager that provides investment management services to institutional investors, governments, financial institutions and private-wealth clients. The company manages and invests capital on behalf of clients through a range of private and public investment strategies.

Its principal investment businesses include real estate, infrastructure, renewable power and transition, private equity, and credit. Brookfield seeks to invest in high-quality assets and businesses, often taking an active ownership and operating role.

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