Brookfield Asset Management (NYSE:BAM) Price Target Raised to $52.00

Key Points

• Piper Sandler raised its price target on Brookfield Asset Management from $49 to $52 but maintained a neutral rating; the target indicated 3.83% downside from the prior close.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $57.19.
• Brookfield reported quarterly EPS of $0.47, beating the $0.46 consensus estimate, and revenue of $2.15 billion versus analyst expectations of $1.60 billion.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its target price upped by stock analysts at Piper Sandler from $49.00 to $52.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. Piper Sandler's price objective suggests a potential downside of 3.83% from the company's previous close.

A number of other equities research analysts have also recently issued reports on the company. Scotiabank set a $60.50 price objective on Brookfield Asset Management and gave the stock a "sector outperform" rating in a research note on Monday. Wall Street Zen upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company initiated coverage on shares of Brookfield Asset Management in a research report on Friday, October 2nd. They set an "overweight" rating and a $41.00 price target on the stock. UBS Group dropped their price target on shares of Brookfield Asset Management from $55.00 to $49.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $48.00 to $50.00 and gave the company a "hold" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.19.

Brookfield Asset Management Stock Up 2.1%

Shares of NYSE:BAM traded up $1.12 during midday trading on Monday, reaching $54.07. The company had a trading volume of 587,934 shares, compared to its average volume of 3,160,852. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The business's 50 day moving average price is $47.18 and its 200 day moving average price is $47.86. The stock has a market cap of $88.59 billion, a PE ratio of 18.52, a P/E/G ratio of 2.24 and a beta of 1.27. Brookfield Asset Management has a 1-year low of $42.20 and a 1-year high of $55.97.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Saturday, November 7th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $1.60 billion. Brookfield Asset Management had a return on equity of 32.71% and a net margin of 71.24%. Research analysts forecast that Brookfield Asset Management will post 1.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BAM. Moors & Cabot Inc. grew its position in Brookfield Asset Management by 59.0% during the third quarter. Moors & Cabot Inc. now owns 8,569 shares of the financial services provider's stock worth $382,000 after buying an additional 3,178 shares in the last quarter. Fisher Asset Management LLC acquired a new position in Brookfield Asset Management in the 3rd quarter valued at $207,000. Maryland State Retirement & Pension System raised its holdings in Brookfield Asset Management by 15.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 22,834 shares of the financial services provider's stock valued at $1,018,000 after acquiring an additional 3,033 shares in the last quarter. AlphaCore Capital LLC acquired a new position in Brookfield Asset Management in the 3rd quarter valued at $224,000. Finally, Brighton Jones LLC lifted its position in shares of Brookfield Asset Management by 13.8% during the 3rd quarter. Brighton Jones LLC now owns 7,742 shares of the financial services provider's stock valued at $345,000 after acquiring an additional 940 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 is a global alternative asset manager that invests in and manages assets on behalf of institutional and private wealth clients. Its investment strategies span infrastructure, renewable power and transition, private equity, real estate, and credit.

The company operates across North America, South America, Europe, the Middle East, and Asia-Pacific. Its businesses invest in and manage assets such as energy and transportation infrastructure, renewable power facilities, real estate, and companies across a range of industries.

Brookfield Asset Management became a separately listed company in 2022, following the separation of Brookfield Corporation's asset management business.

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