Jefferies Financial Group Issues Pessimistic Forecast for Brookfield Asset Management (NYSE:BAM) Stock Price

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its target price reduced 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 target price points to a potential downside of 2.85% from the company's current price.

A number of other analysts have also commented on the stock. CIBC boosted their price objective on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. StockNews.com downgraded shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Hsbc Global Res raised Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 14th. Bank of America reduced their price target on Brookfield Asset Management from $69.00 to $65.00 and set a "neutral" rating for the company in a research report on Friday, April 4th. Finally, Wells Fargo & Company lowered their price target on 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. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $57.75.

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Brookfield Asset Management Price Performance

BAM stock traded up $1.27 during trading hours on Tuesday, reaching $47.35. 1,751,265 shares of the stock were exchanged, compared to its average volume of 1,446,255. The firm's 50-day moving average is $51.89 and its 200-day moving average is $53.58. Brookfield Asset Management has a 12 month low of $37.29 and a 12 month high of $62.61. The company has a market cap of $77.52 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 1.92 and a beta of 1.63.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Brookfield Asset Management by 11.6% in the third quarter. Geode Capital Management LLC now owns 1,611,859 shares of the financial services provider's stock valued at $77,293,000 after acquiring an additional 168,170 shares during the period. Bank of Montreal Can increased its stake in Brookfield Asset Management by 3.7% during the 4th quarter. Bank of Montreal Can now owns 9,575,446 shares of the financial services provider's stock worth $518,655,000 after acquiring an additional 339,072 shares during the period. TD Asset Management Inc. raised its holdings in Brookfield Asset Management by 8.9% in the 4th quarter. TD Asset Management Inc. now owns 16,664,426 shares of the financial services provider's stock valued at $903,323,000 after acquiring an additional 1,359,126 shares in the last quarter. American Century Companies Inc. lifted its position in Brookfield Asset Management by 30.5% during the fourth quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider's stock worth $4,033,000 after purchasing an additional 17,369 shares during the period. Finally, Laffer Tengler Investments Inc. grew its stake in Brookfield Asset Management by 24.2% during the fourth quarter. Laffer Tengler Investments Inc. now owns 147,773 shares of the financial services provider's stock worth $8,008,000 after buying an additional 28,768 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

About Brookfield Asset Management

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.