Brookfield Asset Management (NYSE:BAM) Now Covered by Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research note issued on Thursday, MarketBeat.com reports. The firm set an “underweight” rating and a $42.00 price target on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 6.35% from the company’s current price.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. CIBC increased their target price on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an “outperformer” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Brookfield Asset Management from $43.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They issued a “hold” rating and a $43.00 target price on the stock. Finally, BMO Capital Markets raised their target price on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $43.81.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $44.85 on Thursday. The firm’s fifty day moving average price is $41.11 and its 200 day moving average price is $40.29. The company has a market capitalization of $19.91 billion, a price-to-earnings ratio of 41.53, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. Brookfield Asset Management has a 12-month low of $28.35 and a 12-month high of $45.24.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same period in the prior year, the company earned $0.28 EPS. Analysts forecast that Brookfield Asset Management will post 1.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors have recently added to or reduced their stakes in BAM. YHB Investment Advisors Inc. bought a new position in shares of Brookfield Asset Management in the first quarter worth about $26,000. Massmutual Trust Co. FSB ADV grew its holdings in Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 385 shares during the period. Continuum Advisory LLC grew its holdings in Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 758 shares during the period. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Brookfield Asset Management by 368.3% in the second quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock valued at $37,000 after buying an additional 755 shares during the period. 68.41% of the stock is owned by institutional investors.

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.