JPMorgan Chase & Co. Cuts Brookfield Asset Management (NYSE:BAM) Price Target to $60.00

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $72.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 23.26% from the stock’s current price.

A number of other brokerages also recently commented on BAM. The Goldman Sachs Group reduced their target price on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. UBS Group set a $52.00 price target on shares of Brookfield Asset Management in a research note on Friday, February 20th. Loop Capital set a $60.00 price target on shares of Brookfield Asset Management in a research note on Tuesday, January 6th. BMO Capital Markets raised shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Morgan Stanley reduced their price target on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $61.06.

Brookfield Asset Management Trading Up 0.5%

BAM stock traded up $0.25 during trading on Wednesday, reaching $48.68. 3,705,005 shares of the stock were exchanged, compared to its average volume of 3,618,761. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $45.88 and a 200-day moving average price of $50.20. Brookfield Asset Management has a 1 year low of $42.20 and a 1 year high of $64.10. The firm has a market capitalization of $79.74 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 1.96 and a beta of 1.28.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, February 4th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. On average, research analysts predict that Brookfield Asset Management will post 1.74 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Asset Management

Several large investors have recently added to or reduced their stakes in BAM. Zions Bancorporation National Association UT increased its stake in Brookfield Asset Management by 241.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after buying an additional 345 shares during the period. LOM Asset Management Ltd acquired a new position in Brookfield Asset Management during the 4th quarter worth approximately $31,000. eCIO Inc. acquired a new position in Brookfield Asset Management during the 4th quarter worth approximately $42,000. Assetmark Inc. grew its holdings in Brookfield Asset Management by 95.9% during the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 395 shares in the last quarter. Finally, Cary Street Partners Financial LLC grew its holdings in Brookfield Asset Management by 227.5% during the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 562 shares in the last quarter. 68.41% of the stock is 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.