Brookfield Asset Management (NYSE:BAM) Given New $51.00 Price Target at Wells Fargo & Company

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price upped by analysts at Wells Fargo & Company from $48.00 to $51.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 9.75% from the stock’s previous close.

A number of other brokerages have also recently issued reports on BAM. Bank of America raised their target price on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Scotiabank upped their price objective on Brookfield Asset Management from $45.50 to $55.50 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. BMO Capital Markets increased their price objective on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $49.68.

Brookfield Asset Management Trading Up 3.2 %

Brookfield Asset Management stock traded up $1.74 during midday trading on Tuesday, hitting $56.51. The stock had a trading volume of 443,136 shares, compared to its average volume of 1,271,359. The business has a fifty day moving average price of $47.19 and a 200 day moving average price of $42.32. Brookfield Asset Management has a 12 month low of $30.59 and a 12 month high of $57.36. The stock has a market cap of $25.10 billion, a P/E ratio of 51.36, a P/E/G ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, equities analysts anticipate that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Institutional Trading of Brookfield Asset Management

A number of hedge funds and other institutional investors have recently modified their holdings of BAM. Entropy Technologies LP acquired a new position in Brookfield Asset Management during the third quarter worth about $415,000. Apollon Wealth Management LLC boosted its position in shares of Brookfield Asset Management by 3.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 17,228 shares of the financial services provider’s stock valued at $815,000 after purchasing an additional 579 shares in the last quarter. Laffer Tengler Investments Inc. grew its stake in shares of Brookfield Asset Management by 1.4% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 119,005 shares of the financial services provider’s stock worth $5,628,000 after purchasing an additional 1,617 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Brookfield Asset Management by 45.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 5,841 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Round Rock Advisors LLC bought a new stake in shares of Brookfield Asset Management in the 3rd quarter worth approximately $244,000. Institutional investors own 68.41% of the company’s stock.

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.