Brookfield Asset Management (NYSE:BAM) Stock Price Target Raised at Wells Fargo & Company

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective raised by analysts at Wells Fargo & Company from $51.00 to $57.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 10.18% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Weiss Ratings upgraded shares of Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. UBS Group decreased their price target on shares of Brookfield Asset Management from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Scotiabank set a $60.50 price target on shares of Brookfield Asset Management and gave the company a “sector outperform” rating in a research note on Monday. Finally, National Bank Financial lifted their price target on shares of Brookfield Asset Management from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.37.

Brookfield Asset Management Trading Up 0.6%

Shares of BAM stock traded up $0.32 during mid-day trading on Friday, reaching $51.73. 339,533 shares of the stock traded hands, compared to its average volume of 3,153,755. The stock’s fifty day simple moving average is $47.36 and its two-hundred day simple moving average is $47.89. Brookfield Asset Management has a 1-year low of $42.20 and a 1-year high of $55.97. The company has a market cap of $82.66 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 2.17 and a beta of 1.27. The company has a quick ratio of 0.75, a current ratio of 0.61 and a debt-to-equity ratio of 0.21.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, November 6th. The financial services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. Brookfield Asset Management had a return on equity of 30.24% and a net margin of 71.24%. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $1.60 billion. On average, research analysts anticipate that Brookfield Asset Management will post 1.77 EPS for the current fiscal year.

Institutional Trading of Brookfield Asset Management

Several institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its holdings in Brookfield Asset Management by 15.6% in the first quarter. The Manufacturers Life Insurance Company now owns 5,319,506 shares of the financial services provider’s stock valued at $236,308,000 after acquiring an additional 716,892 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in Brookfield Asset Management by 6.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider’s stock worth $227,422,000 after purchasing an additional 294,966 shares during the last quarter. Cibc World Market Inc. raised its holdings in Brookfield Asset Management by 3.8% during the 3rd quarter. Cibc World Market Inc. now owns 3,704,705 shares of the financial services provider’s stock worth $165,156,000 after purchasing an additional 136,537 shares during the last quarter. Bank of America Corp DE raised its holdings in Brookfield Asset Management by 11.0% during the 1st quarter. Bank of America Corp DE now owns 3,448,351 shares of the financial services provider’s stock worth $153,279,000 after purchasing an additional 341,600 shares during the last quarter. Finally, Madison Asset Management LLC acquired a new position in shares of Brookfield Asset Management in the 2nd quarter worth approximately $70,433,000. 68.41% of the stock is currently owned by institutional investors.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager that invests in and manages assets on behalf of institutional and private wealth clients. Its investment strategies span infrastructure, renewable power and transition, private equity, real estate, and credit. The company operates across North America, South America, Europe, the Middle East, and Asia-Pacific. Its businesses invest in and manage assets such as energy and transportation infrastructure, renewable power facilities, real estate, and companies across a range of industries.