Brookfield Asset Management (NYSE:BAM) PT Raised to $47.00 at The Goldman Sachs Group

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target raised by research analysts at The Goldman Sachs Group from $41.00 to $47.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 5.74% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Scotiabank cut their price target on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group assumed coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their target price on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. BMO Capital Markets raised their target price on Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, CIBC raised their target price on Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research note on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and an average target price of $43.19.

Brookfield Asset Management Stock Up 0.4 %

NYSE BAM traded up $0.18 on Thursday, reaching $44.45. The company had a trading volume of 528,643 shares, compared to its average volume of 1,307,055. The stock has a market capitalization of $19.72 billion, a P/E ratio of 41.16, a P/E/G ratio of 2.09 and a beta of 1.56. The company’s fifty day moving average is $40.87 and its 200 day moving average is $40.23. Brookfield Asset Management has a 52-week low of $28.35 and a 52-week high of $44.65.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $916.00 million during the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same quarter last year, the company earned $0.28 EPS. On average, research analysts expect that Brookfield Asset Management will post 1.42 EPS for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Large investors have recently modified their holdings of the company. YHB Investment Advisors Inc. purchased a new position in shares of Brookfield Asset Management during the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Brookfield Asset Management by 98.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after buying an additional 385 shares in the last quarter. Continuum Advisory LLC raised its holdings in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Brookfield Asset Management by 574.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after buying an additional 758 shares in the last quarter. Finally, Richardson Financial Services Inc. raised its holdings in shares of Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after buying an additional 755 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

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.