The Goldman Sachs Group Issues Pessimistic Forecast 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 The Goldman Sachs Group from $67.00 to $60.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 9.70% from the company’s current price.

Several other research analysts have also recently issued reports on BAM. Piper Sandler reduced their price objective on Brookfield Asset Management from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Morgan Stanley set a $62.00 price target on shares of Brookfield Asset Management in a research report on Monday, October 13th. UBS Group set a $59.00 price objective on shares of Brookfield Asset Management in a research note on Thursday, December 11th. Royal Bank Of Canada set a $74.00 price objective on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a research note on Monday, December 15th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a research report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.43.

Brookfield Asset Management Stock Down 0.1%

Shares of NYSE:BAM traded down $0.06 during trading hours on Tuesday, hitting $54.70. The company’s stock had a trading volume of 692,525 shares, compared to its average volume of 1,240,908. The firm’s fifty day moving average price is $52.88 and its 200 day moving average price is $56.44. Brookfield Asset Management has a 52 week low of $41.78 and a 52 week high of $64.10. The company has a market capitalization of $89.58 billion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 2.15 and a beta of 1.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.34 billion. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%. As a group, research analysts expect that Brookfield Asset Management will post 1.7 EPS for the current year.

Institutional Trading of Brookfield Asset Management

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its position in shares of Brookfield Asset Management by 1,270.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after buying an additional 432 shares in the last quarter. Manchester Capital Management LLC grew its position in shares of Brookfield Asset Management by 559.5% in the second quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 442 shares during the period. Sagard Holdings Management Inc. acquired a new stake in Brookfield Asset Management in the 2nd quarter worth about $39,000. Assetmark Inc. increased its stake in Brookfield Asset Management by 95.9% during the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after buying an additional 395 shares in the last quarter. Finally, Cary Street Partners Financial LLC raised its holdings in shares of Brookfield Asset Management by 227.5% during the third quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 562 shares during the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.