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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target reduced by equities researchers at Wells Fargo & Company from $55.00 to $54.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 9.79% from the company’s current price.

Several other research firms have also commented on BAM. BMO Capital Markets upped their target price on Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. UBS Group assumed coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods lowered their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada raised their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.71.

Brookfield Asset Management Stock Up 4.0 %

Shares of Brookfield Asset Management stock opened at $59.86 on Thursday. The firm has a market cap of $26.53 billion, a P/E ratio of 52.98, a P/E/G ratio of 2.18 and a beta of 1.46. The business has a 50-day moving average price of $56.40 and a 200 day moving average price of $50.94. Brookfield Asset Management has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. As a group, equities research analysts anticipate that Brookfield Asset Management will post 1.45 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tandem Capital Management Corp ADV boosted its stake in shares of Brookfield Asset Management by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider’s stock worth $2,119,000 after acquiring an additional 175 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Brookfield Asset Management by 0.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider’s stock worth $2,201,000 after acquiring an additional 188 shares in the last quarter. RE Dickinson Investment Advisors LLC boosted its stake in shares of Brookfield Asset Management by 3.2% during the 4th quarter. RE Dickinson Investment Advisors LLC now owns 6,962 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 215 shares in the last quarter. Gold Investment Management Ltd. boosted its stake in shares of Brookfield Asset Management by 0.5% during the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider’s stock worth $2,271,000 after acquiring an additional 219 shares in the last quarter. Finally, Procyon Advisors LLC boosted its stake in shares of Brookfield Asset Management by 2.7% during the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider’s stock worth $505,000 after acquiring an additional 249 shares in the last quarter. 68.41% of the stock is 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.