Brookfield Asset Management (NYSE:BAM) Now Covered by Analysts at Wells Fargo & Company

Investment analysts at Wells Fargo & Company initiated coverage on shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm set an “overweight” rating and a $41.00 price target on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 8.50% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Brookfield Asset Management in a report on Wednesday, August 12th. UBS Group raised their price objective on shares of Brookfield Asset Management from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Scotiabank restated an “outperform” rating and issued a $59.00 price objective on shares of Brookfield Asset Management in a report on Thursday, August 6th. National Bank Financial upped their target price on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Moderate Buy” and an average price target of $57.39.

Brookfield Asset Management Price Performance

BAM stock opened at $44.81 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The business has a 50 day simple moving average of $49.36 and a 200-day simple moving average of $47.59. The firm has a market capitalization of $73.41 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.31. Brookfield Asset Management has a 1 year low of $42.20 and a 1 year high of $59.33.

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

Institutional Trading of Brookfield Asset Management

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its holdings in Brookfield Asset Management by 34.8% during the third quarter. Versant Capital Management Inc now owns 1,953 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 504 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Brookfield Asset Management by 131.4% during the 2nd quarter. Baird Financial Group Inc. now owns 45,809 shares of the financial services provider’s stock worth $2,054,000 after purchasing an additional 26,011 shares during the period. Allworth Financial LP increased its holdings in shares of Brookfield Asset Management by 16.0% in the 2nd quarter. Allworth Financial LP now owns 2,958 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 408 shares in the last quarter. Waverly Advisors LLC lifted its stake in shares of Brookfield Asset Management by 11.8% in the second quarter. Waverly Advisors LLC now owns 15,264 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 1,608 shares during the period. Finally, Nykredit A S purchased a new stake in Brookfield Asset Management during the second quarter worth about $2,689,000. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Company Profile

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.