Scotiabank Cuts Brookfield Asset Management (NYSE:BAM) Price Target to $62.50

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective decreased by stock analysts at Scotiabank from $63.00 to $62.50 in a research note issued to investors on Thursday, MarketBeat reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price target suggests a potential upside of 8.94% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. TD Securities raised their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Monday. UBS Group assumed coverage on Brookfield Asset Management in a report on Monday, December 16th. They issued a “buy” rating on the stock. CIBC lifted their price objective on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods decreased their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a report on Monday, January 13th. Finally, The Goldman Sachs Group lifted their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management currently has an average rating of “Hold” and a consensus price target of $56.71.

Brookfield Asset Management Stock Up 4.1 %

NYSE:BAM traded up $2.25 during trading hours on Thursday, hitting $57.37. 783,357 shares of the company’s stock traded hands, compared to its average volume of 1,365,314. The firm has a market cap of $25.42 billion, a P/E ratio of 50.68, a P/E/G ratio of 2.18 and a beta of 1.46. Brookfield Asset Management has a 52 week low of $37.29 and a 52 week high of $62.61. The business’s fifty day simple moving average is $56.41 and its two-hundred day simple moving average is $50.89.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. On average, analysts expect that Brookfield Asset Management will post 1.45 EPS for the current year.

Institutional Trading of Brookfield Asset Management

Several large investors have recently bought and sold shares of BAM. FMR LLC boosted its position in shares of Brookfield Asset Management by 2.3% in the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock worth $1,064,983,000 after purchasing an additional 447,642 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Brookfield Asset Management by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after purchasing an additional 263,660 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after purchasing an additional 1,359,126 shares in the last quarter. FIL Ltd boosted its position in shares of Brookfield Asset Management by 3.9% in the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock worth $833,581,000 after purchasing an additional 574,978 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Brookfield Asset Management by 3.7% in the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock worth $518,655,000 after purchasing an additional 339,072 shares in the last quarter. 68.41% of the stock is owned by 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.