Wells Fargo & Company Issues Positive Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM - Free Report) TSE: BAM.A had its target price boosted by Wells Fargo & Company from $55.00 to $57.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an underweight rating on the financial services provider's stock.

A number of other brokerages have also weighed in on BAM. Piper Sandler assumed coverage on shares of Brookfield Asset Management in a research report on Monday, June 30th. They issued a "neutral" rating and a $60.00 target price on the stock. Bank of America raised Brookfield Asset Management from a "neutral" rating to a "buy" rating and set a $65.00 target price on the stock in a report on Thursday, April 10th. Scotiabank upped their price target on Brookfield Asset Management from $58.00 to $59.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group reduced their target price 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $59.64.

Brookfield Asset Management Price Performance

BAM traded up $0.90 on Friday, hitting $57.02. 1,678,835 shares of the stock were exchanged, compared to its average volume of 1,605,654. The firm has a market capitalization of $93.36 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 2.13 and a beta of 1.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. Brookfield Asset Management has a 12 month low of $38.18 and a 12 month high of $62.61. The business has a 50-day moving average of $56.21 and a two-hundred day moving average of $54.14.

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, meeting analysts' consensus estimates of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. Sell-side analysts forecast that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Asset Management's payout ratio is 124.11%.

Institutional Trading of Brookfield Asset Management

Hedge funds have recently made changes to their positions in the company. Truvestments Capital LLC boosted its stake in Brookfield Asset Management by 487.2% in the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider's stock worth $27,000 after purchasing an additional 419 shares during the period. Rossby Financial LCC purchased a new position in shares of Brookfield Asset Management in the first quarter worth about $28,000. ST Germain D J Co. Inc. purchased a new position in shares of Brookfield Asset Management in the first quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Brookfield Asset Management during the fourth quarter valued at approximately $32,000. Finally, NewEdge Advisors LLC raised its holdings in Brookfield Asset Management by 61.0% in the 4th quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider's stock worth $47,000 after purchasing an additional 325 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

About Brookfield Asset Management

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.