Brookfield Asset Management (NYSE: BAM – Get a rating) (TSE: BAM.A) saw its price target reduced by Royal Bank of Canada equity research analysts 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 shares of the financial services provider. Royal Bank of Canada’s target price would indicate a potential upside of 42.53% from the stock’s previous close.
Other stock analysts have also released reports on the stock. Credit Suisse Group has upgraded Brookfield Asset Management shares from a “neutral” rating to an “outperforming” rating and raised its price target for the stock from $68.00 to $71.50 in a report of research from Wednesday, April 27. Citigroup raised its price target on shares of Brookfield Asset Management from $61.00 to $65.50 in a Friday, Feb. 11 research report. TD Securities raised its price target on Brookfield Asset Management shares from $75.00 to $77.00 and gave the stock a “buy on stock list” rating in a Monday research report February 7. Zacks Investment Research raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a Monday, May 9 research report. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Brookfield Asset Management shares from $62.00 to $60.00 in a research report on Friday. Four investment analysts gave the stock a hold rating, seven gave the company a buy rating and one gave the company a high buy rating. 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 company has a 50-day moving average of $53.50 and a 200-day moving average of $56.00. The company has a market capitalization of $78.31 billion, a price-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 a rating) (TSE:BAM.A) last announced its results on Thursday, May 12. The financial services provider reported earnings per share (EPS) of $0.81 for the quarter, beating the consensus estimate of $0.70 by $0.11. The company posted revenue of $21.88 billion in the quarter, versus analyst estimates of $18.35 billion. Brookfield Asset Management posted a net margin of 5.24% and a return on equity of 3.21%. In the same period a year earlier, the company posted earnings per share of $1.80. Analysts expect Brookfield Asset Management to post EPS of 3.22 for the current fiscal year.
In related news, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the company in a trade on Tuesday, April 19. 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 document filed with the SEC, accessible via this hyperlink. Additionally, insider Brookfield Asset Management In sold 756,921 shares of the company in a trade on Wednesday, May 11. 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 of the company, valued at approximately $372,729,551.04. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 3,976,384 shares of the company valued at $105,795,602.
Institutional investors have recently increased or reduced their stake in the stock. SG Americas Securities LLC increased 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 valued at $570,000 after acquiring an additional 8,672 shares during the period. Commerce Bank bought a new stake in shares of Brookfield Asset Management in the third quarter worth $203,000. Barclays PLC increased 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 valued at $12,717,000 after acquiring an additional 73,274 shares during the period. Geneos Wealth Management Inc. increased 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 valued at $759,000 after acquiring 933 additional shares during the period. Finally, Skandinaviska Enskilda Banken AB publ purchased a new equity stake from Brookfield Asset Management in the third quarter valued at $1,766,000. 60.24% of the shares are currently held by institutional investors.
Brookfield Asset Management Company Profile (Get a rating)
Brookfield Asset Management is an alternative asset manager and REIT/real estate investment manager firm focused on real estate, renewable energy, infrastructure, venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.
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