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

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective reduced by investment analysts at Wells Fargo & Company from $54.00 to $50.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 1.33% from the stock’s previous close.

Several other analysts also recently commented on BAM. Scotiabank dropped their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. CIBC lifted their price target on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. BMO Capital Markets lifted their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and an average price target of $56.38.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded down $0.35 during mid-day trading on Thursday, hitting $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 stock has a market cap of $21.87 billion, a price-to-earnings ratio of 37.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. Brookfield Asset Management has a one year low of $37.29 and a one year high of $62.61. The company’s fifty day simple moving average is $55.36 and its 200-day simple moving average is $53.15.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, sell-side analysts predict that Brookfield Asset Management will post 1.7 EPS for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in BAM. RPg Family Wealth Advisory LLC acquired a new stake in shares of Brookfield Asset Management in the third quarter valued at approximately $27,000. Truvestments Capital LLC raised its position in shares of Brookfield Asset Management by 487.2% in the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after buying an additional 419 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Brookfield Asset Management in the fourth quarter valued at approximately $32,000. Versant Capital Management Inc raised its position in shares of Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock valued at $44,000 after buying an additional 771 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock valued at $47,000 after buying an additional 325 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Asset Management

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.