Wells Fargo & Company Raises Brookfield Asset Management (NYSE:BAM) Price Target to $57.00

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price objective raised by equities research analysts at Wells Fargo & Company from $55.00 to $57.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "underweight" rating on the financial services provider's stock. Wells Fargo & Company's price target suggests a potential upside of 2.21% from the stock's previous close.

BAM has been the subject of several other reports. TD Securities boosted their target price on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Piper Sandler initiated coverage on Brookfield Asset Management in a report on Monday, June 30th. They set a "neutral" rating and a $60.00 price target on the stock. Royal Bank Of Canada initiated coverage on Brookfield Asset Management in a report on Wednesday, June 18th. They set an "outperform" rating and a $72.00 target price on the stock. Bank of America upgraded 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. Finally, Morgan Stanley upped their price target on Brookfield Asset Management from $50.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.64.

Brookfield Asset Management Stock Performance

Shares of BAM opened at $55.77 on Friday. Brookfield Asset Management has a one year low of $38.18 and a one year high of $62.61. The stock has a 50-day moving average of $56.19 and a 200-day moving average of $54.16. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market cap of $91.32 billion, a PE ratio of 39.55, a P/E/G ratio of 2.11 and a beta of 1.43.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 55.26% and a return on equity of 52.70%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. On average, equities research analysts predict that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Mn Services Vermogensbeheer B.V. grew its stake in shares of Brookfield Asset Management by 20.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 74,500 shares of the financial services provider's stock worth $4,115,000 after acquiring an additional 12,500 shares in the last quarter. Jackson Square Capital LLC acquired a new position in Brookfield Asset Management during the second quarter worth about $885,000. Lineweaver Wealth Advisors LLC acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at approximately $200,000. Parallel Advisors LLC grew its position in shares of Brookfield Asset Management by 54.5% in the second quarter. Parallel Advisors LLC now owns 2,407 shares of the financial services provider's stock valued at $133,000 after purchasing an additional 849 shares during the last quarter. Finally, eCIO Inc. purchased a new position in shares of Brookfield Asset Management during the first quarter valued at approximately $64,000. 68.41% of the stock is owned by hedge funds and other 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.

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