TD Securities Has Lowered Expectations for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price reduced by research analysts at TD Securities from $68.00 to $64.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price points to a potential upside of 20.14% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Bank of America upgraded Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a report on Thursday, April 10th. CIBC increased their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. HSBC raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company reduced their price target on shares of Brookfield Asset Management from $50.00 to $48.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods decreased their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Brookfield Asset Management Stock Down 0.1 %

Shares of NYSE BAM opened at $53.27 on Wednesday. The stock has a market capitalization of $87.22 billion, a price-to-earnings ratio of 40.36, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. Brookfield Asset Management has a 52 week low of $37.29 and a 52 week high of $62.61. The firm has a 50-day simple moving average of $49.71 and a 200-day simple moving average of $53.83.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. As a group, equities research analysts expect that Brookfield Asset Management will post 1.7 EPS for the current year.

Hedge Funds Weigh In On Brookfield Asset Management

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversify Wealth Management LLC raised its position in shares of Brookfield Asset Management by 15.5% in the first quarter. Diversify Wealth Management LLC now owns 19,862 shares of the financial services provider’s stock valued at $1,069,000 after buying an additional 2,669 shares during the last quarter. Cerity Partners LLC grew its stake in Brookfield Asset Management by 36.6% during the first quarter. Cerity Partners LLC now owns 29,482 shares of the financial services provider’s stock worth $1,428,000 after buying an additional 7,901 shares during the period. Bridges Investment Management Inc. increased its holdings in Brookfield Asset Management by 5.0% in the 1st quarter. Bridges Investment Management Inc. now owns 13,057 shares of the financial services provider’s stock valued at $633,000 after purchasing an additional 618 shares in the last quarter. M&T Bank Corp lifted its position in Brookfield Asset Management by 53.1% during the 1st quarter. M&T Bank Corp now owns 37,473 shares of the financial services provider’s stock worth $1,815,000 after acquiring an additional 12,996 shares in the last quarter. Finally, Mutual Advisors LLC boosted its stake in shares of Brookfield Asset Management by 11.3% in the first quarter. Mutual Advisors LLC now owns 9,350 shares of the financial services provider’s stock valued at $495,000 after purchasing an additional 952 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.