Brookfield Asset Management (NYSE:BAM) Price Target Lowered to $48.00 at Wells Fargo & Company

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its target price dropped by equities researchers at Wells Fargo & Company from $50.00 to $48.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "underweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective suggests a potential upside of 1.38% from the stock's current price.

BAM has been the topic of a number of other research reports. Keefe, Bruyette & Woods reduced their target price on Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a report on Monday, January 13th. Jefferies Financial Group decreased their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. CIBC boosted their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research report on Thursday, February 13th. Finally, Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $57.75.

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Brookfield Asset Management Trading Up 2.8 %

Brookfield Asset Management stock traded up $1.27 during trading hours on Tuesday, reaching $47.35. 1,751,265 shares of the company were exchanged, compared to its average volume of 1,446,244. The firm has a market cap of $77.52 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 1.92 and a beta of 1.63. Brookfield Asset Management has a 12 month low of $37.29 and a 12 month high of $62.61. The stock has a 50-day moving average of $51.89 and a 200 day moving average of $53.58.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping the consensus estimate 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, research analysts forecast that Brookfield Asset Management will post 1.7 EPS for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider's stock worth $77,293,000 after buying an additional 168,170 shares during the last quarter. Bank of Montreal Can boosted its position in Brookfield Asset Management by 3.7% in the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider's stock worth $518,655,000 after purchasing an additional 339,072 shares in the last quarter. TD Asset Management Inc. grew its position in Brookfield Asset Management by 8.9% during the fourth quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after buying an additional 1,359,126 shares during the period. American Century Companies Inc. boosted its position in Brookfield Asset Management by 30.5% during the fourth quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider's stock worth $4,033,000 after purchasing an additional 17,369 shares in the last quarter. Finally, Laffer Tengler Investments Inc. increased its holdings in Brookfield Asset Management by 24.2% in the 4th quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider's stock worth $8,008,000 after acquiring an additional 28,768 shares in the last quarter. 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.