Brookfield Asset Management (NYSE:BAM) Stock Price Target Raised at JPMorgan Chase & Co.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price upped by JPMorgan Chase & Co. from $55.00 to $58.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 10.48% from the company’s current price.

Several other brokerages also recently weighed in on BAM. Wall Street Zen downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Piper Sandler set a $49.00 price target on Brookfield Asset Management and gave the company a “neutral” rating in a report on Monday, October 19th. Scotia raised their price target on Brookfield Asset Management from $57.00 to $59.00 and gave the company a “sector outperform” rating in a report on Thursday, August 6th. Royal Bank Of Canada set a $65.00 price objective on Brookfield Asset Management and gave the company an “outperform” rating in a research report on Friday, September 18th. Finally, Morgan Stanley set a $54.00 price objective on Brookfield Asset Management in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.91.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded down $1.61 during midday trading on Thursday, reaching $52.50. The stock had a trading volume of 4,107,295 shares, compared to its average volume of 3,150,825. The stock has a 50-day moving average of $47.16 and a 200-day moving average of $47.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $86.01 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.15 and a beta of 1.27. Brookfield Asset Management has a 12-month low of $42.20 and a 12-month high of $55.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.47 billion. As a group, research analysts anticipate that Brookfield Asset Management will post 1.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently modified their holdings of the stock. Trust Co. of Vermont bought a new position in shares of Brookfield Asset Management during the second quarter worth $25,000. Alpine Bank Wealth Management purchased a new position in Brookfield Asset Management during the third quarter valued at $26,000. Compass Financial Management LLC purchased a new position in Brookfield Asset Management during the second quarter valued at $27,000. Allied Private Wealth LLC purchased a new position in Brookfield Asset Management during the second quarter valued at $40,000. Finally, Root Financial Partners LLC bought a new stake in Brookfield Asset Management in the 3rd quarter valued at $50,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.