Brookfield Asset Management (NYSE:BAM) Raised to “Strong-Buy” at BMO Capital Markets

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by equities research analysts at BMO Capital Markets from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on BAM. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. UBS Group set a $58.00 price target on Brookfield Asset Management and gave the company a “neutral” rating in a report on Tuesday, January 13th. Morgan Stanley set a $62.00 price target on Brookfield Asset Management in a research report on Monday, October 13th. Keefe, Bruyette & Woods cut their price objective on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a research report on Monday, November 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $64.33.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM opened at $49.69 on Thursday. The firm has a fifty day simple moving average of $52.41 and a two-hundred day simple moving average of $55.61. Brookfield Asset Management has a 52 week low of $41.78 and a 52 week high of $64.10. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $81.39 billion, a P/E ratio of 32.69, a PEG ratio of 2.06 and a beta of 1.40.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. On average, analysts expect that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PDS Planning Inc increased its position in shares of Brookfield Asset Management by 4.8% during the third quarter. PDS Planning Inc now owns 4,054 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 184 shares during the period. Truist Financial Corp grew its stake in Brookfield Asset Management by 1.4% in the third quarter. Truist Financial Corp now owns 13,240 shares of the financial services provider’s stock worth $754,000 after purchasing an additional 187 shares in the last quarter. GoalVest Advisory LLC grew its stake in Brookfield Asset Management by 9.5% in the second quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 190 shares in the last quarter. Focus Financial Network Inc. increased its holdings in Brookfield Asset Management by 4.6% during the 4th quarter. Focus Financial Network Inc. now owns 4,436 shares of the financial services provider’s stock worth $232,000 after purchasing an additional 194 shares during the period. Finally, Yousif Capital Management LLC raised its position in Brookfield Asset Management by 2.1% during the 3rd quarter. Yousif Capital Management LLC now owns 11,010 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 226 shares in the last quarter. Institutional investors own 68.41% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.