Brookfield Asset Management (NYSE:BAM) Price Target Cut to $54.00 by Analysts at Wells Fargo & Company

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective reduced by equities research analysts at Wells Fargo & Company from $55.00 to $54.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 6.12% from the company’s current price.

A number of other equities analysts also recently issued reports on BAM. UBS Group assumed coverage on shares of Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating on the stock. CIBC increased their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods decreased their price target on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group boosted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Brookfield Asset Management has an average rating of “Hold” and a consensus price target of $56.50.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded up $2.40 on Thursday, reaching $57.52. The company’s stock had a trading volume of 295,764 shares, compared to its average volume of 1,346,594. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61. The company has a market cap of $25.49 billion, a P/E ratio of 50.87, a PEG ratio of 2.18 and a beta of 1.46. The company has a 50-day simple moving average of $56.41 and a 200 day simple moving average of $50.89.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. On average, equities research analysts forecast that Brookfield Asset Management will post 1.45 EPS for the current fiscal year.

Institutional Trading of Brookfield Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hara Capital LLC acquired a new position in Brookfield Asset Management during the 3rd quarter worth $27,000. RPg Family Wealth Advisory LLC bought a new position in shares of Brookfield Asset Management during the third quarter valued at approximately $27,000. Truvestments Capital LLC raised its position in shares of Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 419 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of Brookfield Asset Management in the 4th quarter worth approximately $32,000. Finally, Versant Capital Management Inc grew its stake in Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after buying an additional 771 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

About Brookfield Asset Management

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.