Stock analysts at JPMorgan Chase & Co. initiated coverage on shares of Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The firm set a "neutral" rating and a $41.00 price target on the financial services provider's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 2.50% from the stock's previous close.
Several other brokerages also recently commented on BAM. CIBC increased their price objective on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, January 29th. Scotiabank cut their price target on Brookfield Asset Management from $47.00 to $44.50 and set a "sector outperform" rating on the stock in a research note on Thursday, May 9th. BMO Capital Markets upped their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the company a "market perform" rating in a research note on Thursday, February 8th. Royal Bank of Canada upped their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an "outperform" rating in a research report on Monday, April 29th. Finally, HSBC cut shares of Brookfield Asset Management from a "buy" rating to a "hold" rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $42.14.
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Brookfield Asset Management Stock Performance
Shares of BAM stock traded up $0.04 during trading on Wednesday, hitting $40.00. The company had a trading volume of 1,317,141 shares, compared to its average volume of 1,488,926. Brookfield Asset Management has a one year low of $28.35 and a one year high of $43.00. The firm has a market capitalization of $17.68 billion, a P/E ratio of 37.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.71. The stock's 50-day moving average price is $40.47 and its 200 day moving average price is $38.55.
Institutional Trading of Brookfield Asset Management
Several large investors have recently made changes to their positions in BAM. Partners Value Investments L.P. lifted its holdings in shares of Brookfield Asset Management by 0.9% in the 4th quarter. Partners Value Investments L.P. now owns 30,807,960 shares of the financial services provider's stock worth $1,237,556,000 after purchasing an additional 280,098 shares in the last quarter. Capital World Investors lifted its holdings in shares of Brookfield Asset Management by 10.0% in the fourth quarter. Capital World Investors now owns 24,562,364 shares of the financial services provider's stock valued at $986,656,000 after purchasing an additional 2,241,372 shares in the last quarter. FMR LLC boosted its position in shares of Brookfield Asset Management by 10.2% during the third quarter. FMR LLC now owns 14,217,008 shares of the financial services provider's stock valued at $473,859,000 after buying an additional 1,313,734 shares during the last quarter. TD Asset Management Inc raised its position in Brookfield Asset Management by 8.6% in the 1st quarter. TD Asset Management Inc now owns 12,486,721 shares of the financial services provider's stock valued at $525,028,000 after buying an additional 988,538 shares during the last quarter. Finally, FIL Ltd boosted its holdings in Brookfield Asset Management by 66.1% during the 4th quarter. FIL Ltd now owns 11,314,071 shares of the financial services provider's stock worth $454,424,000 after acquiring an additional 4,501,410 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.
About Brookfield Asset Management
(
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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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