Piper Sandler Lowers Brookfield Asset Management (NYSE:BAM) Price Target to $48.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price decreased by analysts at Piper Sandler from $53.00 to $48.00 in a report issued on Tuesday, MarketBeat reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target suggests a potential upside of 6.02% from the stock’s current price.

Several other analysts have also recently weighed in on BAM. The Goldman Sachs Group reduced their target price on shares of Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Royal Bank Of Canada set a $74.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a report on Monday, December 15th. Zacks Research cut shares of Brookfield Asset Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Wall Street Zen raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, BMO Capital Markets raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.82.

Brookfield Asset Management Stock Up 2.9%

Shares of NYSE:BAM opened at $45.27 on Tuesday. The firm’s 50 day moving average price is $47.04 and its 200 day moving average price is $51.48. The stock has a market cap of $74.17 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 1.57 and a beta of 1.38. Brookfield Asset Management has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.05.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.81%. As a group, equities research analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Asset Management

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation National Association UT raised its holdings in Brookfield Asset Management by 241.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 345 shares in the last quarter. LOM Asset Management Ltd acquired a new stake in Brookfield Asset Management during the fourth quarter worth approximately $31,000. Sagard Holdings Management Inc. acquired a new stake in Brookfield Asset Management during the second quarter worth approximately $39,000. eCIO Inc. acquired a new stake in Brookfield Asset Management during the fourth quarter worth approximately $42,000. Finally, Assetmark Inc. raised its holdings in Brookfield Asset Management by 95.9% during the third quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 395 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.