Brookfield Asset Management (NYSE:BAM) Earns Neutral Rating from Analysts at Piper Sandler

Stock analysts at Piper Sandler initiated coverage on shares of Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A in a report issued on Monday, MarketBeat reports. The firm set a "neutral" rating and a $60.00 price target on the financial services provider's stock. Piper Sandler's price objective would indicate a potential upside of 5.05% from the company's previous close.

Several other brokerages have also recently issued reports on BAM. TD Securities upped their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada initiated coverage on Brookfield Asset Management in a research report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price objective on the stock. Wells Fargo & Company lifted their target price on Brookfield Asset Management from $54.00 to $55.00 and gave the stock an "underweight" rating in a report on Friday, May 23rd. Bank of America raised Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a research report on Thursday, April 10th. Finally, Morgan Stanley raised their price target on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $59.50.

Brookfield Asset Management Price Performance

Shares of BAM traded up $1.58 during mid-day trading on Monday, hitting $57.12. 1,432,599 shares of the stock were exchanged, compared to its average volume of 1,578,653. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $93.52 billion, a PE ratio of 40.51, a price-to-earnings-growth ratio of 2.06 and a beta of 1.43. Brookfield Asset Management has a 52-week low of $37.80 and a 52-week high of $62.61. The firm has a 50-day moving average of $55.82 and a two-hundred day moving average of $54.13.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BAM. Bank of New York Mellon Corp grew its stake in Brookfield Asset Management by 6.1% in the 4th quarter. Bank of New York Mellon Corp now owns 663,389 shares of the financial services provider's stock worth $35,949,000 after acquiring an additional 38,331 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Brookfield Asset Management during the fourth quarter valued at approximately $209,000. US Bancorp DE boosted its holdings in shares of Brookfield Asset Management by 6.5% in the fourth quarter. US Bancorp DE now owns 15,977 shares of the financial services provider's stock valued at $866,000 after purchasing an additional 973 shares during the period. Metis Global Partners LLC grew its stake in Brookfield Asset Management by 9.5% in the fourth quarter. Metis Global Partners LLC now owns 11,931 shares of the financial services provider's stock worth $647,000 after purchasing an additional 1,034 shares in the last quarter. Finally, Bridges Investment Management Inc. grew its stake in Brookfield Asset Management by 57.9% in the fourth quarter. Bridges Investment Management Inc. now owns 12,439 shares of the financial services provider's stock worth $674,000 after purchasing an additional 4,560 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company's stock.

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.