Deutsche Bank Aktiengesellschaft Cuts Brookfield Asset Management (NYSE:BAM) Price Target to $60.00

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) had its price target reduced by equities research analysts at Deutsche Bank Aktiengesellschaft from $62.00 to $60.00 in a report released on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 32.07% from the company’s current price.

Several other research analysts also recently issued reports on BAM. Citigroup upped their price objective on Brookfield Asset Management from $61.00 to $65.50 in a report on Friday, February 11th. Zacks Investment Research raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Monday. TD Securities increased their price target on Brookfield Asset Management from $75.00 to $77.00 and gave the company an “action list buy” rating in a research note on Monday, February 7th. Credit Suisse Group raised Brookfield Asset Management from a “neutral” rating to an “outperform” rating and increased their price target for the company from $68.00 to $71.50 in a research note on Wednesday, April 27th. Finally, StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Saturday, April 30th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Buy” and an average target price of $66.30.

NYSE:BAM opened at $45.43 on Friday. The stock’s fifty day moving average price is $53.59 and its two-hundred day moving average price is $56.12. Brookfield Asset Management has a 52-week low of $44.13 and a 52-week high of $62.47. The company has a market cap of $74.57 billion, a price-to-earnings ratio of 19.01 and a beta of 1.31.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last posted its quarterly earnings data on Thursday, May 12th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.11. Brookfield Asset Management had a return on equity of 3.21% and a net margin of 5.24%. During the same quarter in the prior year, the business posted $1.80 EPS. Analysts forecast that Brookfield Asset Management will post 3.22 EPS for the current fiscal year.

In other Brookfield Asset Management news, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $31.00, for a total transaction of $18,157,785.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Brookfield Asset Management In sold 5,925 shares of the stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $32.13, for a total value of $190,370.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,976,384 shares of company stock valued at $105,795,602.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Synovus Financial Corp grew its holdings in shares of Brookfield Asset Management by 162.2% in the 1st quarter. Synovus Financial Corp now owns 68,007 shares of the financial services provider’s stock valued at $3,845,000 after acquiring an additional 42,065 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Brookfield Asset Management by 0.3% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,910,478 shares of the financial services provider’s stock valued at $164,503,000 after acquiring an additional 8,962 shares in the last quarter. Timucuan Asset Management Inc. FL grew its holdings in Brookfield Asset Management by 0.7% during the first quarter. Timucuan Asset Management Inc. FL now owns 2,680,984 shares of the financial services provider’s stock worth $151,663,000 after purchasing an additional 17,342 shares during the period. Quent Capital LLC grew its holdings in Brookfield Asset Management by 545.2% during the first quarter. Quent Capital LLC now owns 2,226 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,881 shares during the period. Finally, Providence Capital Advisors LLC grew its holdings in Brookfield Asset Management by 7.9% during the first quarter. Providence Capital Advisors LLC now owns 104,674 shares of the financial services provider’s stock worth $5,916,000 after purchasing an additional 7,675 shares during the period. Institutional investors own 60.24% of the company’s stock.

Brookfield Asset Management Company Profile (Get Rating)

Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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