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 decreased by stock analysts at Wells Fargo & Company from $54.00 to $50.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 0.97% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. UBS Group initiated coverage on Brookfield Asset Management in a research note on Monday, December 16th. They issued a “buy” rating on the stock. StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Scotiabank lowered their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. TD Securities boosted their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, CIBC upped their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.

Brookfield Asset Management Price Performance

BAM opened at $49.52 on Thursday. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 37.52, a P/E/G ratio of 1.92 and a beta of 1.50. The firm’s fifty day moving average price is $55.18 and its two-hundred day moving average price is $53.19. Brookfield Asset Management has a 1 year low of $37.29 and a 1 year high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, equities analysts anticipate that Brookfield Asset Management will post 1.7 EPS for the current year.

Institutional Trading of Brookfield Asset Management

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Brookfield Asset Management by 7.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 42,148 shares of the financial services provider’s stock worth $2,284,000 after buying an additional 2,914 shares in the last quarter. Castle Rock Wealth Management LLC boosted its stake in shares of Brookfield Asset Management by 5.7% during the fourth quarter. Castle Rock Wealth Management LLC now owns 31,786 shares of the financial services provider’s stock valued at $1,902,000 after purchasing an additional 1,709 shares during the period. Capital A Wealth Management LLC purchased a new stake in shares of Brookfield Asset Management during the fourth quarter valued at approximately $412,000. Ascent Group LLC boosted its stake in shares of Brookfield Asset Management by 6.5% during the fourth quarter. Ascent Group LLC now owns 10,818 shares of the financial services provider’s stock valued at $586,000 after purchasing an additional 662 shares during the period. Finally, Blue Sky Capital Consultants Group Inc. purchased a new stake in shares of Brookfield Asset Management during the fourth quarter valued at approximately $2,363,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

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.