TD Securities Initiates Coverage on Brookfield Asset Management (NYSE:BAM)

Research analysts at TD Securities started coverage on shares of Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) in a report issued on Friday, The Fly reports. The firm set an “action list buy” rating and a $72.00 price target on the financial services provider’s stock. TD Securities’ price objective would indicate a potential upside of 43.14% from the stock’s current price.

A number of other equities research analysts have also recently commented on BAM. Royal Bank of Canada lowered their target price on Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, May 20th. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Brookfield Asset Management from $57.00 to $52.00 in a research note on Wednesday, July 13th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

Brookfield Asset Management Price Performance

BAM opened at $50.30 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.31 and a quick ratio of 1.11. The company has a market capitalization of $82.31 billion, a price-to-earnings ratio of 22.06 and a beta of 1.31. The firm’s fifty day moving average price is $48.70 and its two-hundred day moving average price is $50.25. Brookfield Asset Management has a 1 year low of $42.21 and a 1 year high of $62.47.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last posted its quarterly earnings data on Thursday, August 11th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.23). Brookfield Asset Management had a return on equity of 3.02% and a net margin of 4.48%. During the same quarter in the previous year, the company earned $1.01 EPS. As a group, analysts anticipate that Brookfield Asset Management will post 3.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAM. Norges Bank bought a new stake in Brookfield Asset Management in the 4th quarter valued at about $810,807,000. Principal Financial Group Inc. increased its position in shares of Brookfield Asset Management by 12.8% during the first quarter. Principal Financial Group Inc. now owns 43,430,538 shares of the financial services provider’s stock valued at $2,456,964,000 after buying an additional 4,943,494 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Brookfield Asset Management by 166.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider’s stock valued at $398,883,000 after buying an additional 4,402,115 shares during the period. FMR LLC increased its position in shares of Brookfield Asset Management by 23.4% during the second quarter. FMR LLC now owns 22,743,081 shares of the financial services provider’s stock valued at $1,011,608,000 after buying an additional 4,315,285 shares during the period. Finally, Select Equity Group L.P. bought a new stake in shares of Brookfield Asset Management during the first quarter valued at about $200,315,000. 59.54% of the stock is currently owned by institutional investors.

Brookfield Asset Management Company Profile

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Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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