Wells Fargo & Company Raises Brookfield Asset Management (NYSE:BAM) Price Target to $51.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price boosted by equities research analysts at Wells Fargo & Company from $48.00 to $51.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 9.75% from the stock’s previous close.

BAM has been the topic of several other research reports. JPMorgan Chase & Co. decreased their price target on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Brookfield Asset Management from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday. TD Securities raised their price target on Brookfield Asset Management from $50.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Bank of America upped their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Scotiabank raised their price target on shares of Brookfield Asset Management from $45.50 to $55.50 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.68.

Brookfield Asset Management Price Performance

Shares of BAM stock traded up $1.74 during trading hours on Tuesday, reaching $56.51. 443,136 shares of the company’s stock were exchanged, compared to its average volume of 1,271,359. Brookfield Asset Management has a 1 year low of $30.59 and a 1 year high of $57.36. The company has a market cap of $25.10 billion, a P/E ratio of 51.36, a price-to-earnings-growth ratio of 2.55 and a beta of 1.42. The company’s 50 day moving average is $47.19 and its two-hundred day moving average is $42.32.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. During the same quarter in the prior year, the business posted $0.35 earnings per share. As a group, analysts predict that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

Several hedge funds have recently modified their holdings of the stock. Entropy Technologies LP purchased a new stake in shares of Brookfield Asset Management during the third quarter valued at approximately $415,000. Apollon Wealth Management LLC increased its position in shares of Brookfield Asset Management by 3.5% during the third quarter. Apollon Wealth Management LLC now owns 17,228 shares of the financial services provider’s stock worth $815,000 after acquiring an additional 579 shares during the last quarter. Laffer Tengler Investments Inc. increased its position in shares of Brookfield Asset Management by 1.4% during the third quarter. Laffer Tengler Investments Inc. now owns 119,005 shares of the financial services provider’s stock worth $5,628,000 after acquiring an additional 1,617 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Brookfield Asset Management by 45.6% in the third quarter. Venturi Wealth Management LLC now owns 5,841 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 1,830 shares in the last quarter. Finally, Round Rock Advisors LLC purchased a new position in Brookfield Asset Management in the third quarter valued at about $244,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

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.