Piper Sandler Lowers Brookfield Asset Management (NYSE:BAM) Price Target to $48.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target cut by stock analysts at Piper Sandler from $53.00 to $48.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 10.33% from the stock’s current price.

BAM has been the topic of a number of other reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brookfield Asset Management in a research report on Monday, December 22nd. Loop Capital set a $60.00 target price on Brookfield Asset Management in a research report on Tuesday, January 6th. The Goldman Sachs Group lowered their target price on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. UBS Group set a $52.00 target price on Brookfield Asset Management in a research report on Friday, February 20th. Finally, Royal Bank Of Canada set a $74.00 target price on Brookfield Asset Management and gave the stock an “outperform” rating in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.47.

Brookfield Asset Management Trading Down 1.6%

Shares of Brookfield Asset Management stock traded down $0.71 on Tuesday, reaching $43.51. 1,858,811 shares of the company’s stock were exchanged, compared to its average volume of 3,711,409. The company has a market capitalization of $71.27 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 1.57 and a beta of 1.38. Brookfield Asset Management has a 52 week low of $41.78 and a 52 week high of $64.10. The firm’s 50-day moving average is $47.32 and its two-hundred day moving average is $51.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.92.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Brookfield Asset Management had a return on equity of 29.81% and a net margin of 51.59%.The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Sell-side analysts predict that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

Large investors have recently made changes to their positions in the business. Zions Bancorporation National Association UT boosted its stake in Brookfield Asset Management by 241.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 345 shares during the period. LOM Asset Management Ltd bought a new stake in shares of Brookfield Asset Management during the 4th quarter valued at about $31,000. Sagard Holdings Management Inc. bought a new stake in shares of Brookfield Asset Management during the 2nd quarter valued at about $39,000. eCIO Inc. bought a new stake in shares of Brookfield Asset Management during the 4th quarter valued at about $42,000. Finally, Assetmark Inc. boosted its position in shares of Brookfield Asset Management by 95.9% during the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 395 shares during the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Asset Management

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.