Keefe, Bruyette & Woods Lowers Brookfield Asset Management (NYSE:BAM) Price Target to $56.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target decreased by stock analysts at Keefe, Bruyette & Woods from $57.00 to $56.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “underperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 9.35% from the stock’s current price.

BAM has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company lifted their price target on shares of Brookfield Asset Management from $51.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, December 12th. Scotiabank lifted their price target 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. BMO Capital Markets lifted their price target on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group boosted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management has a consensus rating of “Hold” and an average price target of $54.46.

Brookfield Asset Management Price Performance

BAM traded down $0.86 during midday trading on Monday, hitting $51.21. 480,901 shares of the company’s stock traded hands, compared to its average volume of 974,446. The company has a market cap of $22.69 billion, a PE ratio of 45.32, a price-to-earnings-growth ratio of 2.43 and a beta of 1.45. The stock’s fifty day simple moving average is $56.02 and its 200-day simple moving average is $48.18. Brookfield Asset Management has a one year low of $37.19 and a one year high of $59.58.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm earned $0.35 earnings per share. On average, research analysts expect that Brookfield Asset Management will post 1.47 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BAM. Versant Capital Management Inc raised 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 purchasing an additional 771 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Brookfield Asset Management during the 3rd quarter worth about $209,000. Morse Asset Management Inc bought a new stake in Brookfield Asset Management during the 3rd quarter worth about $176,000. Toronto Dominion Bank raised its holdings in Brookfield Asset Management by 7.7% during the 3rd quarter. Toronto Dominion Bank now owns 1,056,919 shares of the financial services provider’s stock worth $49,982,000 after purchasing an additional 75,963 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Brookfield Asset Management by 11.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider’s stock worth $77,293,000 after purchasing an additional 168,170 shares during the last quarter. 68.41% of the stock is 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.