Brookfield Asset Management (NYSE:BAM) Stock Gets Price Target Trim from UBS Group

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target cut by analysts at UBS Group from $55.00 to $49.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s target price would indicate a potential upside of 8.36% from the stock’s previous close.

Several other brokerages have also recently issued reports on BAM. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Sunday, October 4th. National Bank Financial increased their price target on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Weiss Ratings upgraded Brookfield Asset Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on Brookfield Asset Management from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada set a $65.00 price objective on shares of Brookfield Asset Management and gave the company an “outperform” rating in a research report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of “Moderate Buy” and an average price target of $57.22.

Brookfield Asset Management Price Performance

BAM traded down $0.61 during trading hours on Tuesday, hitting $45.22. The company’s stock had a trading volume of 5,142,052 shares, compared to its average volume of 3,191,340. The business’s 50-day moving average price is $48.99 and its 200-day moving average price is $47.69. Brookfield Asset Management has a 12 month low of $42.20 and a 12 month high of $57.56. The stock has a market cap of $74.08 billion, a price-to-earnings ratio of 26.29, a P/E/G ratio of 1.89 and a beta of 1.31. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. Sell-side analysts expect that Brookfield Asset Management will post 1.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors and hedge funds have recently modified their holdings of the business. Trust Co. of Vermont bought a new position in Brookfield Asset Management in the 2nd quarter valued at $25,000. Compass Financial Management LLC purchased a new stake in Brookfield Asset Management in the second quarter worth $27,000. Allied Private Wealth LLC purchased a new stake in Brookfield Asset Management in the second quarter worth $40,000. Root Financial Partners LLC lifted its position in shares of Brookfield Asset Management by 184.5% during the first quarter. Root Financial Partners LLC now owns 1,283 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 832 shares during the last quarter. Finally, Hanson & Doremus Investment Management lifted its position in shares of Brookfield Asset Management by 19.3% during the first quarter. Hanson & Doremus Investment Management now owns 1,548 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 250 shares during the last quarter. 68.41% of the stock is owned by institutional investors.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset management company that provides investment management services and strategies for institutional investors, governments, financial institutions and private wealth clients. The company invests in and manages assets on behalf of its clients across a range of private-market sectors.

Its principal investment strategies include renewable power and energy transition, infrastructure, private equity, real estate and credit.