Brookfield Asset Management (NYSE:BAM) Given New $49.00 Price Target at UBS Group

Key Points

• UBS Group lowered Brookfield Asset Management’s price target to $49 from $55 while maintaining a “neutral” rating, implying approximately 8.36% upside from the stock’s current price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $57.22; ratings include one Strong Buy, seven Buys, seven Holds and one Sell.
• BAM shares fell 1.3% to $45.22. The company recently beat quarterly earnings and revenue estimates, while institutional investors own 68.41% of its stock.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its target price decreased by equities researchers at UBS Group from $55.00 to $49.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. UBS Group's price target would suggest a potential upside of 8.36% from the company's current price.

Several other equities analysts have also commented on BAM. Wells Fargo & Company assumed coverage on Brookfield Asset Management in a research report on Friday, October 2nd. They set an "overweight" rating and a $41.00 price objective for the company. Scotiabank reissued an "outperform" rating and set a $59.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, August 6th. Bank of America dropped their price target on Brookfield Asset Management from $61.00 to $60.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Sunday, October 4th. Finally, Morgan Stanley set a $56.00 price target on shares of Brookfield Asset Management and gave the company an "equal weight" rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Brookfield Asset Management presently has a consensus rating of "Moderate Buy" and an average target price of $57.22.

Brookfield Asset Management Stock Down 1.3%

BAM traded down $0.61 on Tuesday, hitting $45.22. The company had a trading volume of 5,142,052 shares, compared to its average volume of 3,191,340. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. Brookfield Asset Management has a 52-week low of $42.20 and a 52-week high of $57.56. The stock has a fifty day simple moving average of $48.99 and a 200-day simple moving average of $47.69. The firm has a market capitalization of $74.08 billion, a P/E ratio of 26.29, a P/E/G ratio of 1.89 and a beta of 1.31.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. As a group, equities analysts expect that Brookfield Asset Management will post 1.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. grew its position in shares of Brookfield Asset Management by 6.3% during the second quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider's stock valued at $227,422,000 after purchasing an additional 294,966 shares in the last quarter. Liontrust Investment Partners LLP bought a new stake in shares of Brookfield Asset Management in the first quarter worth about $11,161,000. Baird Financial Group Inc. lifted its position in shares of Brookfield Asset Management by 131.4% in the second quarter. Baird Financial Group Inc. now owns 45,809 shares of the financial services provider's stock worth $2,054,000 after buying an additional 26,011 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Brookfield Asset Management in the second quarter worth about $8,235,000. Finally, Nykredit A S purchased a new stake in shares of Brookfield Asset Management in the second quarter worth about $3,451,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Asset Management

Brookfield Asset Management Ltd. NYSE: BAM is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.

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