Royal Bank of Canada Raises Brookfield Asset Management (NYSE:BAM) Price Target to $53.00

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its target price raised by equities researchers at Royal Bank of Canada from $50.00 to $53.00 in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Royal Bank of Canada's target price indicates a potential upside of 32.70% from the stock's current price.

Several other brokerages also recently issued reports on BAM. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the company a "market perform" rating in a research report on Thursday, February 8th. HSBC downgraded Brookfield Asset Management from a "buy" rating to a "hold" rating in a research report on Thursday, February 1st. Scotiabank lifted their price objective on Brookfield Asset Management from $46.50 to $47.00 and gave the company a "sector outperform" rating in a research report on Thursday, February 8th. CIBC lifted their price objective on Brookfield Asset Management from $40.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, January 29th. Finally, TD Securities cut their price objective on Brookfield Asset Management from $52.00 to $49.00 and set an "action list buy" rating for the company in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.50.

Brookfield Asset Management Trading Up 0.6 %

BAM stock traded up $0.24 during trading on Monday, hitting $39.94. The company had a trading volume of 848,077 shares, compared to its average volume of 1,165,647. The company has a fifty day moving average price of $40.88 and a two-hundred day moving average price of $37.85. The company has a market cap of $16.50 billion, a P/E ratio of 35.40, a P/E/G ratio of 1.53 and a beta of 1.68. Brookfield Asset Management has a fifty-two week low of $28.35 and a fifty-two week high of $43.00.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. The business had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. During the same period in the prior year, the firm earned $0.31 EPS. On average, analysts expect that Brookfield Asset Management will post 1.49 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. grew its stake in shares of Brookfield Asset Management by 4.7% during the fourth quarter. NBC Securities Inc. now owns 6,139 shares of the financial services provider's stock worth $246,000 after purchasing an additional 277 shares during the period. Jackson Hole Capital Partners LLC grew its stake in Brookfield Asset Management by 3.1% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 9,770 shares of the financial services provider's stock valued at $392,000 after acquiring an additional 291 shares during the period. Tritonpoint Wealth LLC grew its stake in Brookfield Asset Management by 0.4% in the first quarter. Tritonpoint Wealth LLC now owns 78,194 shares of the financial services provider's stock valued at $3,038,000 after acquiring an additional 321 shares during the period. Procyon Advisors LLC grew its stake in Brookfield Asset Management by 5.9% in the fourth quarter. Procyon Advisors LLC now owns 8,291 shares of the financial services provider's stock valued at $333,000 after acquiring an additional 461 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in Brookfield Asset Management by 39.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,764 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 500 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 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.