The Goldman Sachs Group Issues Positive Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price upped by equities researchers at The Goldman Sachs Group from $57.00 to $63.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 13.86% from the company’s current price.

Several other analysts have also commented on BAM. Bank of America boosted their price target on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. BMO Capital Markets increased their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price target on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, TD Securities upped their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and an average target price of $53.46.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded down $0.14 during midday trading on Tuesday, reaching $55.33. 210,689 shares of the company’s stock were exchanged, compared to its average volume of 1,260,771. The company’s 50 day simple moving average is $50.24 and its two-hundred day simple moving average is $43.55. Brookfield Asset Management has a 12 month low of $33.06 and a 12 month high of $58.53. The firm has a market capitalization of $24.51 billion, a PE ratio of 48.97, a price-to-earnings-growth ratio of 2.33 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, research analysts anticipate that Brookfield Asset Management will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hara Capital LLC acquired a new position in shares of Brookfield Asset Management during the third quarter valued at $27,000. RPg Family Wealth Advisory LLC acquired a new position in Brookfield Asset Management during the 3rd quarter valued at about $27,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 385 shares during the last quarter. Continuum Advisory LLC grew its position in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after buying an additional 285 shares during the period. Finally, Richardson Financial Services Inc. raised its stake in shares of Brookfield Asset Management by 368.3% during the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after buying an additional 755 shares during the last quarter. 68.41% of the stock is 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.