Brookfield Asset Management (NYSE:BAM) Price Target Cut to $60.00 by Analysts at The Goldman Sachs Group

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective dropped by analysts at The Goldman Sachs Group from $67.00 to $60.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target points to a potential upside of 9.70% from the company’s current price.

Several other research firms also recently weighed in on BAM. Wall Street Zen downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Sunday, December 21st. UBS Group set a $59.00 price target on Brookfield Asset Management in a research report on Thursday, December 11th. Morgan Stanley set a $62.00 target price on Brookfield Asset Management in a research note on Monday, October 13th. Scotiabank lowered their target price on Brookfield Asset Management from $67.25 to $65.75 and set a “sector outperform” rating for the company in a report on Monday, November 10th. Finally, Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.43.

Brookfield Asset Management Trading Down 0.1%

Shares of Brookfield Asset Management stock traded down $0.06 during trading hours on Tuesday, hitting $54.70. The company’s stock had a trading volume of 692,525 shares, compared to its average volume of 1,240,908. The stock has a market cap of $89.58 billion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 2.15 and a beta of 1.39. Brookfield Asset Management has a twelve month low of $41.78 and a twelve month high of $64.10. The firm has a fifty day moving average of $52.88 and a 200-day moving average of $56.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.97.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.34 billion. Brookfield Asset Management had a net margin of 58.25% and a return on equity of 33.77%. Research analysts forecast that Brookfield Asset Management will post 1.7 EPS for the current year.

Institutional Trading of Brookfield Asset Management

Large investors have recently made changes to their positions in the company. Union Bancaire Privee UBP SA purchased a new position in Brookfield Asset Management in the fourth quarter worth approximately $556,000. GAMMA Investing LLC raised its holdings in shares of Brookfield Asset Management by 102.9% in the 4th quarter. GAMMA Investing LLC now owns 1,686 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 855 shares in the last quarter. AIA Group Ltd lifted its position in shares of Brookfield Asset Management by 29.8% during the 3rd quarter. AIA Group Ltd now owns 81,071 shares of the financial services provider’s stock worth $4,616,000 after purchasing an additional 18,603 shares during the last quarter. Swiss Life Asset Management Ltd lifted its position in shares of Brookfield Asset Management by 7.9% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 59,227 shares of the financial services provider’s stock worth $3,376,000 after purchasing an additional 4,337 shares during the last quarter. Finally, Cambria Investment Management L.P. grew its stake in shares of Brookfield Asset Management by 25.0% during the third quarter. Cambria Investment Management L.P. now owns 10,898 shares of the financial services provider’s stock worth $621,000 after purchasing an additional 2,178 shares in the last quarter. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Company Profile

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.