UBS Group Initiates Coverage on Brookfield Asset Management (NYSE:BAM)

Investment analysts at UBS Group started coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research note issued on Monday, Marketbeat.com reports. The firm set a “buy” rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Keefe, Bruyette & Woods upped their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Bank of America lifted their price objective on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, The Goldman Sachs Group upped their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.88.

Brookfield Asset Management Stock Down 1.5 %

Shares of BAM opened at $57.86 on Monday. The stock’s 50-day moving average price is $54.74 and its 200 day moving average price is $46.12. The firm has a market capitalization of $24.28 billion, a price-to-earnings ratio of 51.20, a P/E/G ratio of 2.43 and a beta of 1.41. Brookfield Asset Management has a 12-month low of $37.19 and a 12-month high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same period in the previous year, the business posted $0.35 earnings per share. Equities research analysts expect that Brookfield Asset Management will post 1.47 EPS for the current year.

Institutional Trading of Brookfield Asset Management

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its stake in shares of Brookfield Asset Management by 2,857.1% in the 3rd quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 10,000 shares during the last quarter. Intact Investment Management Inc. bought a new position in Brookfield Asset Management in the second quarter valued at approximately $4,825,000. Charles Schwab Investment Management Inc. grew its holdings in Brookfield Asset Management by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider’s stock worth $39,516,000 after acquiring an additional 45,670 shares during the period. LGT Capital Partners LTD. raised its position in shares of Brookfield Asset Management by 11.5% during the 3rd quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider’s stock valued at $25,273,000 after acquiring an additional 55,000 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Brookfield Asset Management by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock valued at $188,057,000 after purchasing an additional 370,383 shares during the period. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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.