Brookfield Asset Management (NYSE:BAM) Price Target Cut to $56.00 by Analysts at Keefe, Bruyette & Woods

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price target reduced by stock analysts at Keefe, Bruyette & Woods from $57.00 to $56.00 in a report issued on Monday, MarketBeat Ratings reports. The firm presently has an "underperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 7.84% from the company's current price.

Several other brokerages also recently commented on BAM. TD Securities increased their target price on Brookfield Asset Management from $61.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. BMO Capital Markets increased their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a "market perform" rating in a research report on Tuesday, November 5th. Scotiabank boosted their target price on Brookfield Asset Management from $55.50 to $59.50 and gave the stock a "sector outperform" rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lifted their price target on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Brookfield Asset Management currently has a consensus rating of "Hold" and a consensus price target of $54.46.

Brookfield Asset Management Stock Performance

Shares of BAM traded down $0.14 during trading hours on Monday, hitting $51.93. The company had a trading volume of 3,338,241 shares, compared to its average volume of 1,385,313. The stock has a market capitalization of $23.01 billion, a price-to-earnings ratio of 45.96, a P/E/G ratio of 2.43 and a beta of 1.45. The firm has a fifty day moving average price of $56.02 and a 200-day moving average price of $48.18. Brookfield Asset Management has a 52-week low of $37.19 and a 52-week high of $59.58.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (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 business had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the company earned $0.35 earnings per share. Research analysts anticipate that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

Institutional investors have recently bought and sold shares of the stock. Hara Capital LLC bought a new stake in Brookfield Asset Management during the third quarter valued at about $27,000. RPg Family Wealth Advisory LLC bought a new position in shares of Brookfield Asset Management during the 3rd quarter valued at approximately $27,000. Richardson Financial Services Inc. increased its holdings in Brookfield Asset Management by 368.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider's stock worth $37,000 after acquiring an additional 755 shares in the last quarter. Versant Capital Management Inc raised its stake in Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider's stock worth $44,000 after acquiring an additional 771 shares during the period. Finally, Continuum Advisory LLC lifted its holdings in Brookfield Asset Management by 42.2% during the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 329 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

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.