Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its target price lifted by research analysts at Wells Fargo & Company from $48.00 to $54.00 in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has an "underweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective would indicate a potential downside of 4.17% from the company's previous close.
Other research analysts have also recently issued research reports about the stock. Bank of America upgraded shares of Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price for the company in a research report on Thursday, April 10th. TD Securities lowered their target price on Brookfield Asset Management from $68.00 to $64.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Scotiabank decreased their price target on Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating for the company in a research note on Monday, April 7th. Morgan Stanley reduced their price objective on shares of Brookfield Asset Management from $62.00 to $50.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Finally, Jefferies Financial Group lowered their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.77.
Check Out Our Latest Stock Report on Brookfield Asset Management
Brookfield Asset Management Price Performance
Shares of NYSE:BAM traded down $0.52 during trading on Wednesday, reaching $56.35. 1,628,233 shares of the company's stock traded hands, compared to its average volume of 1,373,896. The company has a 50 day moving average of $49.67 and a 200-day moving average of $54.03. Brookfield Asset Management has a 12 month low of $37.29 and a 12 month high of $62.61. The stock has a market capitalization of $92.26 billion, a P/E ratio of 42.69, a price-to-earnings-growth ratio of 1.92 and a beta of 1.56.
Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results 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. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Equities research analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in BAM. Norges Bank acquired a new position in Brookfield Asset Management in the 4th quarter worth approximately $287,361,000. William Blair Investment Management LLC acquired a new position in Brookfield Asset Management during the fourth quarter valued at $204,169,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Brookfield Asset Management by 103.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,997,157 shares of the financial services provider's stock worth $216,507,000 after acquiring an additional 2,031,995 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in Brookfield Asset Management in the 4th quarter valued at approximately $94,122,000. Finally, TD Asset Management Inc. grew its holdings in shares of Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after acquiring an additional 1,359,126 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.
Brookfield Asset Management Company Profile
(
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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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