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

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price objective lowered by equities research analysts at Wells Fargo & Company from $55.00 to $54.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective would suggest a potential downside of 9.79% from the company's current price.

Several other equities analysts have also issued reports on BAM. Royal Bank of Canada increased their target price on Brookfield Asset Management from $55.00 to $68.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. TD Securities increased their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, February 10th. Scotiabank increased their price target on Brookfield Asset Management from $59.50 to $63.00 and gave the company a "sector outperform" rating in a research report on Monday, February 3rd. Finally, CIBC increased 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. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $56.71.

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock traded up $2.29 during trading hours on Thursday, hitting $59.86. The company's stock had a trading volume of 1,928,737 shares, compared to its average volume of 1,329,742. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $62.61. The firm has a fifty day moving average of $56.45 and a 200-day moving average of $51.17. The stock has a market cap of $26.53 billion, a price-to-earnings ratio of 52.98, a P/E/G ratio of 2.18 and a beta of 1.46.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts expect that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Man Group plc grew its stake in Brookfield Asset Management by 15.4% during the 4th quarter. Man Group plc now owns 33,199 shares of the financial services provider's stock worth $1,799,000 after buying an additional 4,422 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Brookfield Asset Management during the 4th quarter worth approximately $1,402,000. Meketa Capital LLC purchased a new position in shares of Brookfield Asset Management in the 4th quarter valued at approximately $2,371,000. Laird Norton Wetherby Wealth Management LLC purchased a new position in shares of Brookfield Asset Management in the 4th quarter valued at approximately $211,000. Finally, JARISLOWSKY FRASER Ltd purchased a new position in shares of Brookfield Asset Management in the 4th quarter valued at approximately $210,000. Hedge funds and other 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.