Research analysts at TD Securities have begun covering stocks of Brookfield Asset Management (NYSE: BAM – Get Rating) (TSE: BAM.A) in a report released on Friday, reports The Fly. The brokerage has set a “buy on stock list” rating and a price target of $72.00 on the financial services provider’s stock. TD Securities’ price target indicates a potential upside of 43.83% from the stock’s previous close.
Several other research companies also commented on BAM. Deutsche Bank Aktiengesellschaft lowered its price target on Brookfield Asset Management from $57.00 to $52.00 in a Wednesday July 13 research note. Royal Bank of Canada lowered its price target on Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating for the stock in a Friday, May 20 research note. Finally, StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a Tuesday, Aug. 2 research note. Three research analysts gave the stock a hold rating and five gave the company a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $66.33.
Brookfield Asset Management Stock Performance
NYSE BAM traded at $0.63 during Friday trading hours, hitting $50.06. The company’s shares had a trading volume of 79,122 shares, compared to its average volume of 1,227,042. Brookfield Asset Management has a 12-month low of $42.21 and a 12-month high of 62 $.47. The company’s 50-day simple moving average is $48.60 and its two-hundred-day simple moving average is $50.28. The company has a debt ratio of 1.44, a current ratio of 1.31 and a quick ratio of 1.11. The company has a market capitalization of $81.92 billion, a P/E ratio of 21.96 and a beta of 1.31.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last reported results on Thursday, August 11. The financial services provider reported earnings per share (EPS) of $0.34 for the quarter, missing the consensus estimate of $0.57 per ($0.23). Brookfield Asset Management recorded a return on equity of 3.02% and a net margin of 4.48%. In the same quarter a year earlier, the company posted earnings per share of $1.01. As a group, sell-side analysts expect Brookfield Asset Management to post EPS of 3.19 for the current fiscal year.
Hedge funds weigh on Brookfield Asset Management
Major investors have recently changed their positions in the company. Norges Bank bought a new position in Brookfield Asset Management in Q4 worth $810,807,000. Principal Financial Group Inc. increased its stake in Brookfield Asset Management by 12.8% in Q1. Principal Financial Group Inc. now owns 43,430,538 shares of the financial services provider worth $2,456,964,000 after purchasing an additional 4,943,494 shares during the period. Goldman Sachs Group Inc. increased its stake in 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 valued at $398,883,000 after buying an additional 4,402,115 shares last quarter. FMR LLC increased its position in Brookfield Asset Management by 23.4% in the second quarter. FMR LLC now owns 22,743,081 shares of the financial services provider valued at $1,011,608,000 after purchasing an additional 4,315,285 shares during the period. Finally, Select Equity Group LP bought a new position in Brookfield Asset Management in Q1 worth approximately $200,315,000. 59.54% of the shares are held by hedge funds and other 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 focused on real estate, renewable energy, infrastructure, 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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