Brookfield Asset Management (NYSE:BAM) Stock Price Expected to Rise, CIBC Analyst Says

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective raised by analysts at CIBC from $63.00 to $70.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. CIBC’s price target indicates a potential upside of 16.79% from the stock’s previous close.

BAM has been the topic of a number of other reports. TD Securities increased their target price on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. UBS Group started coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company reduced their price objective on Brookfield Asset Management from $56.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.13.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock opened at $59.94 on Thursday. Brookfield Asset Management has a 1-year low of $37.29 and a 1-year high of $62.61. The business has a 50-day moving average of $56.32 and a 200-day moving average of $49.84. The company has a market capitalization of $26.56 billion, a PE ratio of 53.04, a P/E/G ratio of 2.32 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period last year, the business earned $0.35 EPS. On average, equities analysts expect that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC raised its holdings in shares of Brookfield Asset Management by 170.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,406 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 887 shares in the last quarter. Sanctuary Advisors LLC grew its position in Brookfield Asset Management by 2.3% in the fourth quarter. Sanctuary Advisors LLC now owns 20,617 shares of the financial services provider’s stock worth $1,117,000 after buying an additional 462 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Brookfield Asset Management by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 8,930,366 shares of the financial services provider’s stock valued at $483,963,000 after buying an additional 62,908 shares in the last quarter. Blue Zone Wealth Advisors LLC lifted its position in shares of Brookfield Asset Management by 1.4% during the 4th quarter. Blue Zone Wealth Advisors LLC now owns 152,107 shares of the financial services provider’s stock valued at $8,243,000 after acquiring an additional 2,038 shares during the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of Brookfield Asset Management by 5.4% during the 4th quarter. Principal Securities Inc. now owns 8,291 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 427 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

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.