The Goldman Sachs Group Has Lowered Expectations for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target reduced by research analysts at The Goldman Sachs Group from $60.00 to $49.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 12.40% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a report on Monday, December 15th. Piper Sandler dropped their target price on shares of Brookfield Asset Management from $53.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday. BMO Capital Markets raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. increased their target price on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Scotiabank dropped their target price on shares of Brookfield Asset Management from $64.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average target price of $61.82.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock traded down $0.63 during trading hours on Tuesday, reaching $43.60. 2,273,967 shares of the stock were exchanged, compared to its average volume of 3,717,748. The company has a market cap of $71.42 billion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.38. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. Brookfield Asset Management has a twelve month low of $41.78 and a twelve month high of $64.10. The stock has a 50 day moving average of $47.32 and a two-hundred day moving average of $51.64.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. Equities analysts expect that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BAM. Zions Bancorporation National Association UT raised its holdings in Brookfield Asset Management by 241.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock valued at $26,000 after buying an additional 345 shares during the last quarter. LOM Asset Management Ltd bought a new position in Brookfield Asset Management in the 4th quarter valued at approximately $31,000. Sagard Holdings Management Inc. bought a new position in Brookfield Asset Management in the 2nd quarter valued at approximately $39,000. eCIO Inc. bought a new position in Brookfield Asset Management in the 4th quarter valued at approximately $42,000. Finally, Assetmark Inc. raised its holdings in Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after buying an additional 395 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.