Brookfield Asset Management (NYSE:BAM) Price Target Lowered to $55.00 at Wells Fargo & Company

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective reduced by Wells Fargo & Company from $56.00 to $55.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft boosted their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Scotiabank boosted their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods decreased their price target on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research note on Monday. BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Finally, StockNews.com cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of “Hold” and an average target price of $54.38.

Brookfield Asset Management Stock Performance

BAM opened at $52.98 on Tuesday. The company has a market cap of $23.47 billion, a P/E ratio of 46.89, a PEG ratio of 2.43 and a beta of 1.45. Brookfield Asset Management has a one year low of $37.19 and a one year high of $59.58. The business’s 50-day simple moving average is $55.91 and its 200-day simple moving average is $48.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period in the previous year, the company posted $0.35 EPS. As a group, analysts predict that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s payout ratio is 134.51%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors have recently made changes to their positions in BAM. Hara Capital LLC acquired a new position in shares of Brookfield Asset Management in the third quarter valued at $27,000. RPg Family Wealth Advisory LLC bought a new position in Brookfield Asset Management in the third quarter valued at about $27,000. Versant Capital Management Inc grew its holdings in Brookfield Asset Management by 1,606.3% during the 4th quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 771 shares during the period. Richardson Financial Services Inc. boosted its stake in Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 755 shares during the last quarter. Finally, Continuum Advisory LLC lifted its holdings in Brookfield Asset Management by 42.2% during the third quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 329 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors.

About Brookfield Asset Management

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.