JPMorgan Chase & Co. Boosts Brookfield Asset Management (NYSE:BAM) Price Target to $72.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target hoisted by analysts at JPMorgan Chase & Co. from $68.00 to $72.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 44.90% from the company’s current price.

BAM has been the subject of a number of other research reports. Morgan Stanley set a $62.00 price target on shares of Brookfield Asset Management in a research note on Monday, October 13th. National Bankshares decreased their target price on shares of Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Royal Bank Of Canada set a $74.00 price target on Brookfield Asset Management and gave the company an “outperform” rating in a research report on Monday, December 15th. Scotiabank set a $64.00 price objective on Brookfield Asset Management and gave the company an “outperform” rating in a research note on Thursday. Finally, BMO Capital Markets set a $58.00 target price on Brookfield Asset Management and gave the company an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.33.

Brookfield Asset Management Stock Up 2.1%

Shares of NYSE BAM opened at $49.69 on Thursday. The business has a 50-day moving average price of $52.41 and a 200 day moving average price of $55.61. The stock has a market cap of $81.39 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.06 and a beta of 1.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. Brookfield Asset Management has a 52-week low of $41.78 and a 52-week high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a return on equity of 29.67% and a net margin of 51.59%. Equities research analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Brookfield Asset Management by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider’s stock worth $928,414,000 after purchasing an additional 297,790 shares during the period. TD Asset Management Inc boosted its holdings in Brookfield Asset Management by 1.6% during the second quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider’s stock worth $861,101,000 after buying an additional 250,068 shares in the last quarter. Mackenzie Financial Corp grew its position in Brookfield Asset Management by 2.5% during the second quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider’s stock worth $631,412,000 after buying an additional 282,853 shares during the period. Principal Financial Group Inc. increased its holdings in Brookfield Asset Management by 7.3% in the fourth quarter. Principal Financial Group Inc. now owns 7,863,457 shares of the financial services provider’s stock valued at $411,972,000 after buying an additional 533,639 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Brookfield Asset Management during the 2nd quarter valued at approximately $294,730,000. Institutional investors and hedge funds 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.