In a note sent out to investors on Thursday, analysts from TD Securities raised their price target for Brookfield Asset Management (NYSE: BAM-Get Rating) (TSE: BAM.A), as reported by BayStreet.CA. The note was distributed to investors. The new price target is going to be $73.00. Investors are being encouraged by the corporation to “action list buy” the financial services provider’s stock at this time. TD Securities has set a price target for the stock, representing a 46.79 percent price increase over where it is currently trading. There has been a rise in the number of scholarly articles published on BAM in recent years. The prior rating that StockNews.com had assigned to Brookfield Asset Management was changed from “sell” to “hold” in a report issued on Tuesday, August 2. In a research note published on Wednesday, July 13, Deutsche Bank Aktiengesellschaft lowered its price target on Brookfield Asset Management from $57.00 to $52.00 in a research note.
Royal Bank of Canada downgraded Brookfield Asset Management from an “outperform” rating to a “market perform” one. It decreased its price objective for the company from $72 to $68 in research that was made public on Friday, May 20. Three equity research analysts have assigned a hold rating to the stock, four equity research analysts have issued a buy recommendation, and one has given a strong buy recommendation. According to data provided by MarketBeat, most market analysts have assigned a recommendation of “Moderate Buy” to the stock, and their consensus price objective is $66.50. They also recommend purchasing the stock. When trading on BAM started on Thursday, the stock was priced at $49.73. Currently, the debt-to-equity ratio stands at 1.44, the quick ratio sits at 1.11, and the current ratio sits at 1.31. Over the last 52 weeks, Brookfield Asset Management’s share price has ranged from as low as $42.21 to as high as $62.47.
The company’s share price has been trading at $48.92 on a moving average basis over the previous 50 days, while its share price has been trading at $50.19 on a moving average basis over the past 200 days. Both the price-to-earnings ratio of the company, which is 21.81, and its beta value, which is 1.31, are very high. The corporation is currently valued at $81.38 billion on the market. The most recent quarterly earnings report for Brookfield Asset Management (NYSE: BAM-Get Rating) (TSE: BAM.A) was released to the public on August 11. The financial services company reported quarterly earnings of $0.34 per share, which came in significantly lower than the projections made by industry analysts, who anticipated earnings of $0.57 per share. Thanks to the company’s efforts, both a net margin of 4.48% and a return on equity of 3.02% were accomplished by Brookfield Asset Management. The company’s earnings per share for the quarter were $1.01, an increase of $0.50 from the prior year’s figures for the same period. Sell-side analysts anticipate that Brookfield Asset Management will generate $3.19 per share earnings this year.
Opps Tpic Holdings, Llc, a significant shareholder in the company, sold 3,963,416 shares of the company’s stock on Thursday, September 8. The entire value of the stock sold was $74,710,391.60, and the price received for each share, on average, was $18.85. The conclusion of the transaction has resulted in the insider being the owner of 12,263 company shares, which have a total value of about $231,157.55. You will have access to the SEC filing if you use this website, which is also the location where the transaction was notified to the public. Significant shareholders have just recently made adjustments to their existing stock holdings. The number of shares owned by Massmutual Trust Company FSB ADV rose by 46.2% during the first three months of the year due to the company’s investment in Brookfield Asset Management. The total number of shares that Massmutual Trust Co. FSB ADV currently possesses in the financial services provider’s stock has increased by 201, bringing the total number of shares that it holds to 636, which has a value of $36,000.
The increase in the number of shares that it possesses comes as a result of a recent acquisition. During the second quarter, Advisors Asset Management Inc. brought the total shares it owned in Brookfield Asset Management to 7.6% higher than previously. The most recent quarter saw Advisors Asset Management Inc. acquire 204 additional shares, bringing the total number of shares owned by the company in the financial services provider’s stock to 2,898 with a value of $129,000. During the second quarter, CRA Financial Services LLC achieved a rise of 1.5 percent in the amount of ownership it holds in Brookfield Asset Management. CRA Financial Services LLC now has a total ownership stake in the financial services provider’s stock equal to 15,226 shares after purchasing an additional 226 shares over the most recent quarter for a combined total of $670,000. This brings the company’s total number of shares to 15,226. The proportion of HB Wealth Management LLC’s holdings invested in Brookfield Asset Management saw a 2.3% increase during the second quarter due to the company’s actions.
HB Wealth Management LLC is currently the owner of 10,486 shares of the financial services firm. This comes from the company’s purchase of an additional 240 shares during the preceding quarter. The value of these shares at present is $466,000. In the second quarter, Value Partners Investments Inc. boosted the proportion of Brookfield Asset Management stock owned by 2.8%, making this the last and most crucial point. After purchasing an additional 240 shares during the most recent quarter, Worth Partners Investments Inc. now has 8,811 shares of the company’s common stock. Based on current market conditions, the value of these shares is approximately $390,000. 59.54% of the company’s shares are owned by institutional investors and hedge funds, making up most of these shareholders. Trust for the Investment in Real Estate or Property Manager.
The key areas of concentration for Brookfield Asset Management are real estate, alternative energy, infrastructure, venture capital, and private equity. It manages a wide range of public and private investment products and services on behalf of individual investors and large institutions. MarketBeat tracks the most well-regarded and successful research analysts working on Wall Street and the firms that these analysts recommend to their clients daily. MarketBeat also follows the companies that these analysts study closely. According to MarketBeat, the industry’s leading analysts did not recommend Brookfield Asset Management as one of the five stocks their clients should purchase before the rest of the market does so.