Brookfield Asset Management (NYSE:BAM) Price Target Raised to $56.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target raised by stock analysts at Wells Fargo & Company from $51.00 to $56.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 2.49% from the company’s previous close.

Several other equities analysts have also weighed in on BAM. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a report on Monday, November 11th. Scotiabank boosted their price objective on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods boosted their price target on Brookfield Asset Management from $44.00 to $49.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. Finally, TD Securities increased their price objective on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and a consensus price target of $53.88.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $57.43 on Thursday. The firm has a market capitalization of $24.10 billion, a PE ratio of 51.13, a P/E/G ratio of 2.43 and a beta of 1.41. Brookfield Asset Management has a 12 month low of $37.19 and a 12 month high of $59.58. The business has a 50-day moving average of $54.10 and a two-hundred day moving average of $45.64.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, research analysts anticipate that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Several large investors have recently modified their holdings of BAM. Cetera Advisors LLC bought a new position in Brookfield Asset Management during the first quarter worth $209,000. CWM LLC lifted its position in shares of Brookfield Asset Management by 12.2% in the 2nd quarter. CWM LLC now owns 2,448 shares of the financial services provider’s stock worth $93,000 after buying an additional 267 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Brookfield Asset Management by 330.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,925 shares of the financial services provider’s stock worth $1,443,000 after buying an additional 29,111 shares during the last quarter. Continuum Advisory LLC boosted its holdings in shares of Brookfield Asset Management by 57.6% in the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after buying an additional 285 shares during the period. Finally, Kirr Marbach & Co. LLC IN grew its position in shares of Brookfield Asset Management by 11.0% during the 2nd quarter. Kirr Marbach & Co. LLC IN now owns 35,713 shares of the financial services provider’s stock valued at $1,359,000 after buying an additional 3,544 shares during the last quarter. 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.