Brookfield Asset Management (NYSE:BAM) Price Target Raised to $67.00 at TD Securities

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target upped by TD Securities from $63.00 to $67.00 in a research note published on Friday, BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

BAM has been the subject of several other research reports. Citigroup lifted their target price on shares of Brookfield Asset Management from $54.00 to $56.00 and gave the stock a buy rating in a report on Tuesday, July 9th. BMO Capital Markets lifted their target price on shares of Brookfield Asset Management from $55.00 to $59.00 and gave the stock an outperform rating in a report on Friday. Six research analysts have rated the stock with a buy rating, Brookfield Asset Management presently has an average rating of Buy and a consensus price target of $55.50.

Shares of Brookfield Asset Management stock traded up $0.76 during trading on Friday, hitting $50.87. 1,741,245 shares of the stock were exchanged, compared to its average volume of 1,353,540. The firm has a market cap of $49.03 billion, a PE ratio of 15.48 and a beta of 1.12. The stock has a fifty day moving average of $48.66. Brookfield Asset Management has a 1-year low of $36.58 and a 1-year high of $51.03. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.11 by $0.25. The business had revenue of $16.92 billion during the quarter, compared to the consensus estimate of $14.30 billion. Brookfield Asset Management had a net margin of 5.63% and a return on equity of 3.86%. Brookfield Asset Management’s revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS.

In other Brookfield Asset Management news, Director Brookfield Asset Management In sold 1,900,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $23.75, for a total value of $45,125,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional investors have recently modified their holdings of the company. Lenox Wealth Management Inc. boosted its stake in Brookfield Asset Management by 862.1% during the first quarter. Lenox Wealth Management Inc. now owns 558 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 500 shares in the last quarter. Zions Bancorporation N.A. bought a new position in shares of Brookfield Asset Management in the first quarter valued at $27,000. Carroll Financial Associates Inc. lifted its stake in shares of Brookfield Asset Management by 86.9% in the first quarter. Carroll Financial Associates Inc. now owns 912 shares of the financial services provider’s stock valued at $42,000 after buying an additional 424 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Brookfield Asset Management by 233.0% in the second quarter. AdvisorNet Financial Inc now owns 979 shares of the financial services provider’s stock valued at $47,000 after buying an additional 685 shares in the last quarter. Finally, Huntington National Bank bought a new position in shares of Brookfield Asset Management in the second quarter valued at $48,000. 60.89% of the stock is owned by institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

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