Brookfield Asset Management (NYSE:BAM) Given a $65.00 Price Target by Royal Bank Of Canada Analysts

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) has been given a $65.00 price objective by equities research analysts at Royal Bank Of Canada in a research note issued to investors on Friday, BayStreet reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 41.41% from the stock’s previous close.

BAM has been the topic of a number of other research reports. Scotiabank reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Morgan Stanley set a $56.00 price target on Brookfield Asset Management and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. National Bank Financial raised their target price on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Scotia raised their price objective on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and an average target price of $58.65.

Brookfield Asset Management Stock Up 1.2%

Brookfield Asset Management stock traded up $0.55 during midday trading on Friday, hitting $45.97. 1,121,627 shares of the company’s stock were exchanged, compared to its average volume of 3,156,034. The company has a market cap of $75.30 billion, a PE ratio of 26.72, a P/E/G ratio of 1.85 and a beta of 1.27. The firm has a 50-day moving average of $49.84 and a two-hundred day moving average of $47.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. Brookfield Asset Management has a 12 month low of $42.20 and a 12 month high of $62.57.

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

Hedge Funds Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc grew its holdings in Brookfield Asset Management by 2.0% during the 4th quarter. TD Asset Management Inc now owns 15,769,066 shares of the financial services provider’s stock valued at $827,135,000 after buying an additional 315,036 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Brookfield Asset Management by 62.0% during the 1st quarter. Principal Financial Group Inc. now owns 12,735,547 shares of the financial services provider’s stock worth $566,092,000 after purchasing an additional 4,872,090 shares during the last quarter. Norges Bank acquired a new stake in Brookfield Asset Management during the fourth quarter valued at approximately $263,444,000. CIBC Asset Management Inc boosted its stake in Brookfield Asset Management by 99.1% in the fourth quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider’s stock valued at $255,449,000 after acquiring an additional 2,415,593 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Brookfield Asset Management by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 4,604,648 shares of the financial services provider’s stock worth $245,497,000 after acquiring an additional 310,049 shares during the period. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a global alternative asset manager that provides investment management services to institutional investors, governments, financial institutions and private-wealth clients. The company manages and invests capital on behalf of clients through a range of private and public investment strategies.

Its principal investment businesses include real estate, infrastructure, renewable power and transition, private equity, and credit. Brookfield seeks to invest in high-quality assets and businesses, often taking an active ownership and operating role.