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 price objective raised by research analysts at Wells Fargo & Company from $48.00 to $51.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 10.46% from the company’s current price.

A number of other equities analysts have also recently issued reports on BAM. Bank of America raised their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. BMO Capital Markets lifted 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 research note on Wednesday, September 11th. JPMorgan Chase & Co. lowered 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. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management presently has a consensus rating of “Hold” and a consensus target price of $52.29.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $56.96 on Tuesday. The firm’s 50 day moving average price is $47.78 and its two-hundred day moving average price is $42.55. Brookfield Asset Management has a 52-week low of $30.59 and a 52-week high of $57.36. The stock has a market cap of $25.30 billion, a PE ratio of 50.41, a PEG ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business posted $0.35 EPS. As a group, sell-side analysts predict that Brookfield Asset Management will post 1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently bought and sold shares of BAM. Janney Montgomery Scott LLC lifted its position in shares of Brookfield Asset Management by 2.5% in the first quarter. Janney Montgomery Scott LLC now owns 194,158 shares of the financial services provider’s stock worth $8,159,000 after purchasing an additional 4,820 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Brookfield Asset Management by 574.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after buying an additional 758 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Brookfield Asset Management during the 1st quarter worth about $137,000. JCIC Asset Management Inc. increased its position in shares of Brookfield Asset Management by 1.0% in the first quarter. JCIC Asset Management Inc. now owns 81,850 shares of the financial services provider’s stock valued at $3,440,000 after acquiring an additional 840 shares during the last quarter. Finally, Karpas Strategies LLC raised its holdings in Brookfield Asset Management by 0.7% during the first quarter. Karpas Strategies LLC now owns 263,513 shares of the financial services provider’s stock worth $11,073,000 after acquiring an additional 1,821 shares in the last quarter. Institutional investors and hedge funds 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.