National Bank Financial Initiates Coverage on Brookfield Asset Management (NYSE:BAM)

Analysts at National Bank Financial began coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research note issued on Tuesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $71.00 price target on the financial services provider’s stock. National Bank Financial’s price objective would suggest a potential upside of 14.20% from the stock’s previous close.

A number of other analysts also recently issued reports on BAM. Wells Fargo & Company raised their price target on Brookfield Asset Management from $55.00 to $57.00 and gave the stock an “underweight” rating in a research report on Friday, July 11th. Scotiabank raised their price target on Brookfield Asset Management from $58.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Piper Sandler began coverage on Brookfield Asset Management in a research report on Monday, June 30th. They issued a “neutral” rating and a $60.00 price target for the company. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group lowered their price target on Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management has an average rating of “Moderate Buy” and an average price target of $62.06.

Brookfield Asset Management Stock Down 1.0%

NYSE BAM opened at $62.17 on Tuesday. 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 capitalization of $101.80 billion, a P/E ratio of 44.09, a P/E/G ratio of 2.43 and a beta of 1.43. Brookfield Asset Management has a one year low of $38.18 and a one year high of $63.53. The stock has a 50 day moving average price of $57.12 and a 200-day moving average price of $54.73.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. As a group, equities analysts predict that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Brookfield Asset Management by 2.3% during the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after buying an additional 447,642 shares during the period. Vanguard Group Inc. grew its stake in Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock valued at $832,833,000 after purchasing an additional 302,852 shares during the last quarter. Capital International Investors grew its stake in Brookfield Asset Management by 0.7% in the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock valued at $873,354,000 after purchasing an additional 116,008 shares during the last quarter. TD Asset Management Inc grew its stake in Brookfield Asset Management by 1.6% in the second quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider’s stock valued at $861,101,000 after purchasing an additional 250,068 shares during the last quarter. Finally, FIL Ltd grew its stake in Brookfield Asset Management by 3.9% in the fourth quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock valued at $833,581,000 after purchasing an additional 574,978 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

About Brookfield Asset Management

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.