Brookfield Asset Management (NYSE:BAM) Coverage Initiated by Analysts at Royal Bank Of Canada

Stock analysts at Royal Bank Of Canada initiated coverage on shares of Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A in a note issued to investors on Wednesday. The brokerage set an "outperform" rating and a $72.00 price target on the financial services provider's stock. Royal Bank Of Canada's target price indicates a potential upside of 33.43% from the company's previous close.

BAM has been the topic of a number of other reports. JPMorgan Chase & Co. upped their target price on shares of Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. TD Securities boosted their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Jefferies Financial Group reduced their target price on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Finally, Bank of America upgraded Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target on the stock in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.46.

Brookfield Asset Management Trading Down 1.6%

Shares of Brookfield Asset Management stock opened at $53.96 on Wednesday. Brookfield Asset Management has a 12-month low of $37.33 and a 12-month high of $62.61. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07. The business's 50 day moving average is $54.36 and its 200-day moving average is $54.32. The stock has a market cap of $87.02 billion, a P/E ratio of 38.27, a P/E/G ratio of 1.99 and a beta of 1.51.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. Equities research analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors have recently modified their holdings of the business. ST Germain D J Co. Inc. acquired a new stake in Brookfield Asset Management in the 1st quarter worth about $26,000. Truvestments Capital LLC increased its holdings in shares of Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after purchasing an additional 419 shares during the period. Rossby Financial LCC acquired a new stake in shares of Brookfield Asset Management in the first quarter valued at approximately $28,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Brookfield Asset Management in the fourth quarter valued at approximately $32,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock valued at $47,000 after buying an additional 325 shares during the period. Institutional investors own 68.41% of the company's stock.

About Brookfield Asset Management

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.

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