Brookfield Asset Management (NYSE:BAM) Given New $46.00 Price Target at Jefferies Financial Group

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price objective cut by stock analysts at Jefferies Financial Group from $52.00 to $46.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price target points to a potential downside of 3.40% from the company’s current price.

Several other equities research analysts have also recently commented on BAM. Keefe, Bruyette & Woods cut their target price on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. Scotiabank reduced their price objective on shares of Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating for the company in a research report on Monday. CIBC increased their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company dropped their target price on shares of Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating on the stock in a research report on Thursday, March 20th. Finally, Bank of America cut their target price on shares of Brookfield Asset Management from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, April 4th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $57.75.

Brookfield Asset Management Price Performance

Shares of BAM stock opened at $47.62 on Tuesday. The business has a 50 day simple moving average of $52.33 and a 200 day simple moving average of $53.58. The firm has a market capitalization of $77.97 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. Brookfield Asset Management has a 12-month low of $37.29 and a 12-month high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, equities analysts anticipate that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Institutional Trading of Brookfield Asset Management

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ST Germain D J Co. Inc. bought a new stake in Brookfield Asset Management during the first quarter worth approximately $26,000. NBC Securities Inc. grew its stake in Brookfield Asset Management by 104,200.0% in the 1st quarter. NBC Securities Inc. now owns 6,258 shares of the financial services provider’s stock valued at $303,000 after buying an additional 6,252 shares during the last quarter. Parallel Advisors LLC raised its holdings in Brookfield Asset Management by 85.7% in the 1st quarter. Parallel Advisors LLC now owns 1,558 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 719 shares during the period. GAMMA Investing LLC lifted its position in Brookfield Asset Management by 4,745.0% during the 1st quarter. GAMMA Investing LLC now owns 18,750 shares of the financial services provider’s stock worth $908,000 after acquiring an additional 18,363 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Brookfield Asset Management by 231.4% in the first quarter. Versant Capital Management Inc now owns 2,714 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 1,895 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.