Brookfield Asset Management (NYSE:BAM) Given Neutral Rating at Piper Sandler

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A)‘s stock had its “neutral” rating restated by equities researchers at Piper Sandler in a report released on Friday, Benzinga reports. They presently have a $50.00 price objective on the financial services provider’s stock, down from their prior price objective of $53.00. Piper Sandler’s target price suggests a potential upside of 8.97% from the company’s previous close.

A number of other equities research analysts also recently issued reports on BAM. Weiss Ratings reissued a “hold (c+)” rating on shares of Brookfield Asset Management in a research report on Wednesday, August 12th. Scotia lifted their target price on Brookfield Asset Management from $57.00 to $59.00 and gave the company a “sector outperform” rating in a research report on Thursday, August 6th. Morgan Stanley set a $56.00 price target on Brookfield Asset Management and gave the company an “equal weight” rating in a report on Tuesday, July 21st. National Bank Financial raised their price objective on Brookfield Asset Management from $69.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, UBS Group lifted their price objective on Brookfield Asset Management from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus price target of $58.65.

Brookfield Asset Management Stock Performance

Shares of BAM stock traded up $0.47 during trading hours on Friday, reaching $45.89. The company had a trading volume of 811,273 shares, compared to its average volume of 3,154,113. 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 business has a fifty day moving average price of $49.84 and a 200-day moving average price of $47.63. Brookfield Asset Management has a one year low of $42.20 and a one year high of $62.57. The firm has a market cap of $75.17 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 1.85 and a beta of 1.27.

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

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAM. Norges Bank bought a new stake in shares of Brookfield Asset Management during the 4th quarter worth approximately $263,444,000. Principal Financial Group Inc. increased its stake in Brookfield Asset Management by 62.0% in the first 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 period. CIBC Asset Management Inc lifted its position in shares of Brookfield Asset Management by 99.1% during the fourth quarter. CIBC Asset Management Inc now owns 4,853,861 shares of the financial services provider’s stock worth $255,449,000 after purchasing an additional 2,415,593 shares during the last quarter. Madison Asset Management LLC purchased a new stake in shares of Brookfield Asset Management during the second quarter valued at $70,433,000. Finally, Cibc World Market Inc. grew its holdings in shares of Brookfield Asset Management by 33.9% in the fourth quarter. Cibc World Market Inc. now owns 4,312,939 shares of the financial services provider’s stock worth $225,955,000 after purchasing an additional 1,092,851 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

About Brookfield Asset Management

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.