Scotiabank Has Lowered Expectations for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price lowered by investment analysts at Scotiabank from $62.50 to $58.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price target indicates a potential upside of 32.49% from the company’s current price.

BAM has been the subject of a number of other reports. HSBC raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Bank of America lowered their target price on Brookfield Asset Management from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday. BMO Capital Markets upped their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. CIBC lifted their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, UBS Group initiated coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.67.

Brookfield Asset Management Trading Down 1.0 %

Shares of Brookfield Asset Management stock traded down $0.45 on Monday, hitting $43.78. The stock had a trading volume of 2,444,864 shares, compared to its average volume of 1,767,588. The stock has a market cap of $71.68 billion, a price-to-earnings ratio of 33.24, a P/E/G ratio of 1.92 and a beta of 1.62. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61. The company’s 50 day moving average price is $53.89 and its 200 day moving average price is $53.75.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share 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%. Analysts predict that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Institutional Trading of Brookfield Asset Management

Institutional investors and hedge funds have recently modified their holdings of the business. Truvestments Capital LLC raised its position in shares of Brookfield Asset Management by 487.2% during the 4th quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 419 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Brookfield Asset Management in the fourth quarter worth $32,000. Versant Capital Management Inc lifted 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 acquiring an additional 771 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Brookfield Asset Management by 61.0% during the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 325 shares during the last quarter. Finally, Continuum Advisory LLC boosted its stake in shares of 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 acquiring an additional 329 shares during 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.