Brookfield Asset Management (NYSE:BAM) Given New $55.00 Price Target at Wells Fargo & Company

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price target raised by stock analysts at Wells Fargo & Company from $54.00 to $55.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the financial services provider's stock. Wells Fargo & Company's target price would suggest a potential downside of 3.42% from the company's previous close.

Several other research firms have also commented on BAM. Bank of America raised shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 price target for the company in a report on Thursday, April 10th. Hsbc Global Res upgraded Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. upped their target price on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Jefferies Financial Group cut their price target on Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Finally, HSBC upgraded Brookfield Asset Management from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $59.15.

Brookfield Asset Management Stock Down 0.5%

Shares of BAM traded down $0.29 during mid-day trading on Friday, hitting $56.95. The stock had a trading volume of 589,148 shares, compared to its average volume of 1,387,660. Brookfield Asset Management has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The company has a market cap of $91.83 billion, a PE ratio of 43.14, a PEG ratio of 1.92 and a beta of 1.56. The company's fifty day simple moving average is $51.52 and its two-hundred day simple moving average is $54.37.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. Equities analysts expect that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Institutional Trading of Brookfield Asset Management

A number of institutional investors have recently made changes to their positions in the stock. Integrity Alliance LLC. bought a new stake in Brookfield Asset Management during the first quarter worth approximately $281,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Brookfield Asset Management by 10.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider's stock valued at $12,648,000 after purchasing an additional 24,013 shares during the period. Ascent Group LLC increased its position in shares of Brookfield Asset Management by 31.4% during the 1st quarter. Ascent Group LLC now owns 14,220 shares of the financial services provider's stock valued at $689,000 after purchasing an additional 3,402 shares during the period. United Services Automobile Association raised its stake in shares of Brookfield Asset Management by 3.6% in the 1st quarter. United Services Automobile Association now owns 12,824 shares of the financial services provider's stock worth $623,000 after buying an additional 445 shares in the last quarter. Finally, CTC Alternative Strategies Ltd. acquired a new stake in shares of Brookfield Asset Management in the first quarter valued at $329,000. 68.41% of the stock is owned by institutional investors and hedge funds.

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.

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