Piper Sandler Initiates Coverage on Brookfield Asset Management (NYSE:BAM)

Analysts at Piper Sandler began coverage on shares of Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage set a "neutral" rating and a $60.00 price target on the financial services provider's stock. Piper Sandler's price target suggests a potential upside of 9.07% from the company's current price.

BAM has been the subject of several other reports. Wells Fargo & Company lifted their price objective on Brookfield Asset Management from $54.00 to $55.00 and gave the stock an "underweight" rating in a research 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 price objective for the company in a research report on Thursday, April 10th. Jefferies Financial Group cut their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, TD Securities raised their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $59.50.

Brookfield Asset Management Stock Down 0.2%

Shares of NYSE BAM opened at $55.01 on Monday. The stock has a market cap of $90.08 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.00 and a beta of 1.51. Brookfield Asset Management has a 52-week low of $37.40 and a 52-week high of $62.61. The business has a 50-day moving average price of $55.45 and a 200 day moving average price of $54.13. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07.

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

Institutional Investors Weigh In On Brookfield Asset Management

Several large investors have recently modified their holdings of BAM. ST Germain D J Co. Inc. bought a new stake in shares of Brookfield Asset Management in the 1st quarter worth about $26,000. Truvestments Capital LLC boosted its position in Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock valued at $27,000 after buying an additional 419 shares in the last quarter. Rossby Financial LCC bought a new stake in Brookfield Asset Management during the first quarter worth about $28,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Brookfield Asset Management during the fourth quarter worth approximately $32,000. Finally, NewEdge Advisors LLC raised 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 acquiring an additional 325 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

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.

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