Brookfield Asset Management (NYSE:BAM) Coverage Initiated at Royal Bank Of Canada

Equities researchers at Royal Bank Of Canada assumed coverage on shares of Brookfield Asset Management (NYSE:BAMGet Free Report) (TSE:BAM.A) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $72.00 price target on the financial services provider’s stock. Royal Bank Of Canada’s price target points to a potential upside of 31.87% from the stock’s current price.

BAM has been the topic of several other research reports. Wells Fargo & Company raised 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 report on Friday, May 16th. Jefferies Financial Group dropped their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Bank of America upgraded shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.46.

Check Out Our Latest Stock Analysis on Brookfield Asset Management

Brookfield Asset Management Trading Up 1.1%

NYSE:BAM opened at $54.60 on Wednesday. Brookfield Asset Management has a 52 week low of $37.33 and a 52 week high of $62.61. The firm has a 50 day moving average of $54.67 and a 200 day moving average of $54.30. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $88.04 billion, a price-to-earnings ratio of 38.72, a PEG ratio of 1.98 and a beta of 1.51.

Brookfield Asset Management (NYSE:BAMGet Free Report) (TSE:BAM.A) last posted its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. As a group, sell-side analysts anticipate 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 hedge funds have recently modified their holdings of the company. ST Germain D J Co. Inc. acquired a new stake in shares of Brookfield Asset Management in the first quarter worth approximately $26,000. Truvestments Capital LLC boosted its position in shares of Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 419 shares during the last quarter. Rossby Financial LCC acquired a new stake in shares of Brookfield Asset Management in the first quarter worth approximately $28,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Brookfield Asset Management in the fourth quarter worth approximately $32,000. Finally, NewEdge Advisors LLC boosted its position in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 325 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

(Get Free Report)

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.

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