Royal Bank Of Canada Begins Coverage on Brookfield Asset Management (NYSE:BAM)

Equities research analysts at Royal Bank Of Canada began coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research note issued to investors on Wednesday. The brokerage set an “outperform” rating and a $72.00 price target on the financial services provider’s stock. Royal Bank Of Canada’s target price points to a potential upside of 33.43% from the stock’s current price.

Several other research firms also recently issued reports on BAM. TD Securities upped their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their price target on shares of Brookfield Asset Management from $54.00 to $55.00 and gave the company an “underweight” rating in a research report on Friday, May 23rd. Morgan Stanley raised their price target on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company an “equal weight” rating in a research note on Friday, May 16th. Bank of America raised shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Thursday, April 10th. Finally, Scotiabank raised their target price 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.46.

Brookfield Asset Management Stock Performance

NYSE BAM opened at $53.96 on Wednesday. The firm’s 50 day simple moving average is $54.36 and its 200 day simple moving average is $54.32. The firm has a market capitalization of $87.02 billion, a price-to-earnings ratio of 38.27, a P/E/G ratio of 1.99 and a beta of 1.51. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. Brookfield Asset Management has a 1 year low of $37.33 and a 1 year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations 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, research analysts expect that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

Several institutional investors and hedge funds have recently made changes to their positions in BAM. Bank of Montreal Can lifted its stake in Brookfield Asset Management by 3.7% in the fourth quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider’s stock valued at $518,655,000 after buying an additional 339,072 shares during the period. TD Asset Management Inc. increased its stake 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 valued at $903,323,000 after acquiring an additional 1,359,126 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Brookfield Asset Management by 30.5% in the 4th quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider’s stock valued at $4,033,000 after acquiring an additional 17,369 shares in the last quarter. Laffer Tengler Investments Inc. lifted its position in shares of Brookfield Asset Management by 24.2% during the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider’s stock valued at $8,008,000 after acquiring an additional 28,768 shares during the period. Finally, Plato Investment Management Ltd boosted its stake in Brookfield Asset Management by 173.7% during the fourth quarter. Plato Investment Management Ltd now owns 10,369 shares of the financial services provider’s stock worth $564,000 after acquiring an additional 6,580 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

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.