Keefe, Bruyette & Woods Lowers Brookfield Asset Management (NYSE:BAM) Price Target to $56.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target cut by equities research analysts at Keefe, Bruyette & Woods from $57.00 to $56.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 9.35% from the stock’s previous close.

BAM has been the subject of a number of other research reports. UBS Group initiated coverage on Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. TD Securities increased their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday. Royal Bank of Canada increased their price objective on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group increased their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $54.46.

Brookfield Asset Management Stock Down 1.7 %

Shares of BAM traded down $0.86 on Monday, hitting $51.21. The company’s stock had a trading volume of 480,901 shares, compared to its average volume of 974,446. The firm’s fifty day moving average price is $56.02 and its 200-day moving average price is $48.18. Brookfield Asset Management has a fifty-two week low of $37.19 and a fifty-two week high of $59.58. The firm has a market capitalization of $22.69 billion, a price-to-earnings ratio of 45.32, a P/E/G ratio of 2.43 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the firm earned $0.35 EPS. As a group, equities analysts predict that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Asset Management

A number of hedge funds have recently made changes to their positions in BAM. Hara Capital LLC acquired a new stake in shares of 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 third quarter worth about $27,000. Richardson Financial Services Inc. raised its position in shares of Brookfield Asset Management by 368.3% during the second 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 during the last quarter. Versant Capital Management Inc increased its holdings in 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 worth $44,000 after purchasing an additional 771 shares in the last quarter. Finally, Continuum Advisory LLC increased its holdings in Brookfield Asset Management by 42.2% in the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 329 shares in the last quarter. 68.41% of the stock is 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.