Jefferies Financial Group Has Lowered Expectations for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its target price lowered by equities researchers at Jefferies Financial Group from $52.00 to $46.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price target suggests a potential upside of 5.68% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reduced their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating on the stock in a research report on Monday, January 13th. UBS Group began coverage on Brookfield Asset Management in a research note on Monday, December 16th. They set a “buy” rating for the company. Scotiabank cut their price target on Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating on the stock in a research note on Monday. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Monday. Finally, CIBC increased their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $57.92.

Brookfield Asset Management Stock Down 0.0 %

Shares of NYSE:BAM traded down $0.01 during midday trading on Tuesday, reaching $43.53. The company’s stock had a trading volume of 2,143,162 shares, compared to its average volume of 1,401,282. The business has a 50 day moving average price of $53.57 and a 200 day moving average price of $53.72. Brookfield Asset Management has a 1 year low of $37.29 and a 1 year high of $62.61. The firm has a market cap of $71.27 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Asset Management

Several hedge funds have recently made changes to their positions in the stock. Truvestments Capital LLC boosted its holdings in shares of Brookfield Asset Management by 487.2% during the fourth quarter. Truvestments Capital LLC now owns 505 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 419 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in Brookfield Asset Management during the 4th quarter worth $32,000. Versant Capital Management Inc grew its stake in shares of Brookfield Asset Management by 1,606.3% in the fourth quarter. Versant Capital Management Inc now owns 819 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 771 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Brookfield Asset Management by 61.0% in the fourth quarter. NewEdge Advisors LLC now owns 858 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 325 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Brookfield Asset Management during the fourth quarter valued at $54,000. Institutional investors 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.