Wells Fargo & Company Boosts Brookfield Asset Management (NYSE:BAM) Price Target to $56.00

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price objective boosted by stock analysts at Wells Fargo & Company from $51.00 to $56.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective suggests a potential downside of 3.08% from the company's previous close.

A number of other brokerages also recently commented on BAM. TD Securities increased their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Bank of America boosted their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. Scotiabank raised their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a "sector outperform" rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Finally, StockNews.com raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $53.88.

Brookfield Asset Management Price Performance

Shares of Brookfield Asset Management stock traded down $1.29 during trading on Thursday, hitting $57.78. The stock had a trading volume of 538,405 shares, compared to its average volume of 1,241,304. The business has a fifty day moving average of $53.89 and a two-hundred day moving average of $45.55. Brookfield Asset Management has a fifty-two week low of $35.82 and a fifty-two week high of $59.58. The firm has a market cap of $24.25 billion, a P/E ratio of 51.13, a PEG ratio of 2.37 and a beta of 1.41.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the business earned $0.35 earnings per share. As a group, research analysts forecast that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC raised its stake in shares of Brookfield Asset Management by 2,857.1% in the third quarter. Avior Wealth Management LLC now owns 10,350 shares of the financial services provider's stock valued at $489,000 after acquiring an additional 10,000 shares during the last quarter. Intact Investment Management Inc. bought a new stake in shares of Brookfield Asset Management during the 2nd quarter valued at $4,825,000. LGT Capital Partners LTD. increased its holdings in Brookfield Asset Management by 11.5% in the third quarter. LGT Capital Partners LTD. now owns 534,000 shares of the financial services provider's stock valued at $25,273,000 after purchasing an additional 55,000 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Brookfield Asset Management by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider's stock valued at $188,057,000 after acquiring an additional 370,383 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Brookfield Asset Management by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 834,929 shares of the financial services provider's stock worth $39,516,000 after purchasing an additional 45,670 shares in the last quarter. Institutional investors own 68.41% of the company's stock.

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.