[ad_1]
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) had its price objective cut by equities research analysts at Royal Bank of Canada from $72.00 to $68.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 42.53% from the stock’s previous close.
Other equities analysts have also issued reports about the stock. Credit Suisse Group upgraded shares of Brookfield Asset Management from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $68.00 to $71.50 in a research report on Wednesday, April 27th. Citigroup upped their price target on shares of Brookfield Asset Management from $61.00 to $65.50 in a research report on Friday, February 11th. TD Securities upped their price target on shares of Brookfield Asset Management from $75.00 to $77.00 and gave the stock an “action list buy” rating in a research report on Monday, February 7th. Zacks Investment Research upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Monday, May 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Brookfield Asset Management from $62.00 to $60.00 in a research report on Friday. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $66.10.
Shares of NYSE BAM opened at $47.71 on Friday. The firm has a 50 day moving average of $53.50 and a 200 day moving average of $56.00. The firm has a market capitalization of $78.31 billion, a price-to-earnings ratio of 19.63 and a beta of 1.31. Brookfield Asset Management has a 12-month low of $44.13 and a 12-month high of $62.47.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last announced its earnings results on Thursday, May 12th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.11. The company had revenue of $21.88 billion during the quarter, compared to analyst estimates of $18.35 billion. Brookfield Asset Management had a net margin of 5.24% and a return on equity of 3.21%. During the same period in the previous year, the business posted $1.80 earnings per share. Analysts predict that Brookfield Asset Management will post 3.22 EPS for the current fiscal year.
In related news, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the company’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $31.00, for a total transaction of $18,157,785.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brookfield Asset Management In sold 756,921 shares of the company’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $24.64, for a total transaction of $18,650,533.44. Following the sale, the insider now directly owns 15,127,011 shares in the company, valued at approximately $372,729,551.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,976,384 shares of company stock valued at $105,795,602.
Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake in shares of Brookfield Asset Management by 437.5% in the third quarter. SG Americas Securities LLC now owns 10,654 shares of the financial services provider’s stock valued at $570,000 after acquiring an additional 8,672 shares during the period. Commerce Bank purchased a new stake in shares of Brookfield Asset Management in the third quarter valued at $203,000. Barclays PLC raised its stake in shares of Brookfield Asset Management by 44.6% in the third quarter. Barclays PLC now owns 237,664 shares of the financial services provider’s stock valued at $12,717,000 after acquiring an additional 73,274 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Brookfield Asset Management by 7.2% in the third quarter. Geneos Wealth Management Inc. now owns 13,899 shares of the financial services provider’s stock valued at $759,000 after acquiring an additional 933 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Brookfield Asset Management in the third quarter valued at $1,766,000. 60.24% of the stock is currently owned by institutional investors.
Brookfield Asset Management Company Profile (Get Rating)
Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.
Featured Articles
Receive News & Ratings for Brookfield Asset Management Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Brookfield Asset Management and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link
