Piper Sandler Reiterates Neutral Rating for Brookfield Asset Management (NYSE:BAM)

Key Points

• Piper Sandler maintained a “neutral” rating on Brookfield Asset Management but lowered its price target to $50 from $53, implying about 9% upside from the stock’s $45.89 price.
• Analyst sentiment remains mixed but generally cautious: Brookfield has an overall “Hold” consensus rating and an average price target of $58.65.
• Brookfield exceeded quarterly expectations, reporting $0.44 in earnings per share versus a $0.43 estimate and $1.49 billion in revenue versus $1.47 billion expected; institutional investors own 68.41% of the stock.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A's stock had its "neutral" rating restated by equities researchers at Piper Sandler in a note issued to investors on Friday, Benzinga reports. They currently have a $50.00 target price on the financial services provider's stock, down from their previous target price of $53.00. Piper Sandler's target price points to a potential upside of 8.97% from the stock's current price.

Several other equities analysts also recently weighed in on the company. UBS Group raised their target price on Brookfield Asset Management from $48.00 to $55.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Scotia lifted their target price on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a "sector outperform" rating in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Morgan Stanley set a $56.00 price target on shares of Brookfield Asset Management and gave the stock an "equal weight" rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Brookfield Asset Management in a report on Wednesday, August 12th. One investment 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 issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $58.65.

Brookfield Asset Management Stock Performance

BAM traded up $0.47 on Friday, reaching $45.89. 811,273 shares of the stock were exchanged, compared to its average volume of 3,154,113. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The company's 50-day moving average price is $49.84 and its 200 day moving average price is $47.63. The firm has a market capitalization of $75.17 billion, a PE ratio of 26.70, a PEG ratio of 1.85 and a beta of 1.27. Brookfield Asset Management has a fifty-two week low of $42.20 and a fifty-two week high of $62.57.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.47 billion. As a group, sell-side analysts forecast 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 made changes to their positions in the stock. Crescent Grove Advisors LLC increased its position in shares of Brookfield Asset Management by 4.3% during the fourth quarter. Crescent Grove Advisors LLC now owns 4,800 shares of the financial services provider's stock valued at $251,000 after acquiring an additional 200 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in Brookfield Asset Management by 1.3% in the 4th quarter. Foundations Investment Advisors LLC now owns 17,165 shares of the financial services provider's stock valued at $899,000 after acquiring an additional 226 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in Brookfield Asset Management by 29.6% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,096 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 250 shares in the last quarter. Hanson & Doremus Investment Management boosted its stake in Brookfield Asset Management by 19.3% during the 1st quarter. Hanson & Doremus Investment Management now owns 1,548 shares of the financial services provider's stock valued at $69,000 after purchasing an additional 250 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in shares of Brookfield Asset Management by 0.6% in the 4th quarter. Clearstead Advisors LLC now owns 43,847 shares of the financial services provider's stock worth $2,297,000 after purchasing an additional 260 shares in the last quarter. 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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