Wells Fargo & Company Has Lowered Expectations for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price dropped by equities researchers at Wells Fargo & Company from $54.00 to $50.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 1.33% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Scotiabank decreased their target price on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. UBS Group initiated coverage on Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. Hsbc Global Res raised Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Finally, CIBC upped their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.38.

Brookfield Asset Management Stock Down 0.7 %

Shares of BAM traded down $0.35 during trading hours on Thursday, reaching $49.35. The company’s stock had a trading volume of 1,002,994 shares, compared to its average volume of 1,302,899. The firm has a market cap of $21.87 billion, a price-to-earnings ratio of 37.38, a P/E/G ratio of 1.92 and a beta of 1.50. Brookfield Asset Management has a 1-year low of $37.29 and a 1-year high of $62.61. The company has a 50 day moving average of $55.36 and a two-hundred day moving average of $53.15.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating 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, analysts forecast that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its position in Brookfield Asset Management by 2.3% during the 4th quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock worth $1,064,983,000 after buying an additional 447,642 shares in the last quarter. Vanguard Group Inc. grew its holdings in Brookfield Asset Management by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider’s stock worth $916,676,000 after acquiring an additional 263,660 shares during the last quarter. TD Asset Management Inc. grew its holdings in Brookfield Asset Management by 8.9% during the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider’s stock worth $903,323,000 after acquiring an additional 1,359,126 shares during the last quarter. Capital International Investors grew its holdings in Brookfield Asset Management by 0.7% during the 4th quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock worth $873,354,000 after acquiring an additional 116,008 shares during the last quarter. Finally, FIL Ltd grew its holdings in Brookfield Asset Management by 3.9% during the 4th quarter. FIL Ltd now owns 15,369,816 shares of the financial services provider’s stock worth $833,581,000 after acquiring an additional 574,978 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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.