The Goldman Sachs Group Issues Pessimistic Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target reduced by equities researchers at The Goldman Sachs Group from $60.00 to $49.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 8.23% from the stock’s previous close.

BAM has been the topic of a number of other reports. Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Brookfield Asset Management in a report on Monday, December 22nd. 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. Royal Bank Of Canada set a $74.00 price target on shares of Brookfield Asset Management and gave the stock an “outperform” rating in a report on Monday, December 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Brookfield Asset Management from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and an average price target of $61.82.

Brookfield Asset Management Stock Up 2.9%

BAM stock opened at $45.27 on Tuesday. The firm’s fifty day simple moving average is $47.04 and its 200-day simple moving average is $51.48. The company has a market capitalization of $74.17 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 1.57 and a beta of 1.38. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.92. Brookfield Asset Management has a 12 month low of $41.78 and a 12 month high of $64.10.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Brookfield Asset Management by 72.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider’s stock valued at $222,161,000 after buying an additional 1,642,375 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Brookfield Asset Management by 1.5% in the third quarter. Vanguard Group Inc. now owns 17,425,392 shares of the financial services provider’s stock valued at $991,677,000 after buying an additional 253,789 shares during the last quarter. Cumberland Partners Ltd raised its position in shares of Brookfield Asset Management by 78.0% in the third quarter. Cumberland Partners Ltd now owns 126,015 shares of the financial services provider’s stock valued at $7,168,000 after buying an additional 55,225 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in shares of Brookfield Asset Management by 65.6% in the third quarter. Hillsdale Investment Management Inc. now owns 254,212 shares of the financial services provider’s stock valued at $14,463,000 after buying an additional 100,713 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Brookfield Asset Management by 18.5% in the third quarter. New York State Common Retirement Fund now owns 465,600 shares of the financial services provider’s stock valued at $26,511,000 after buying an additional 72,600 shares during 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.