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

Key Points

• Jefferies Financial Group raised its target price for Brookfield Asset Management from $55.00 to $62.00, maintaining a "hold" rating, indicating a potential downside of 1.07% from the current price.
• Several other brokerages have also increased their price targets for Brookfield, with Scotiabank's target reaching $67.25 and Morgan Stanley adjusting to $54.00, reflecting positive market sentiment.
• Brookfield Asset Management holds a market cap of $102.63 billion and has seen recent activity from institutional investors, with 68.41% of shares owned by them.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A had its price target raised by Jefferies Financial Group from $55.00 to $62.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the financial services provider's stock. Jefferies Financial Group's target price suggests a potential upside of 0.98% from the stock's previous close.

BAM has been the subject of a number of other research reports. BMO Capital Markets upped their price objective on Brookfield Asset Management from $53.00 to $56.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. Morgan Stanley boosted their target price on Brookfield Asset Management from $50.00 to $54.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $58.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Finally, Scotiabank boosted their target price on Brookfield Asset Management from $66.00 to $67.25 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $63.33.

Brookfield Asset Management Trading Down 1.1%

Shares of BAM stock traded down $0.71 on Wednesday, reaching $61.40. 920,365 shares of the stock were exchanged, compared to its average volume of 1,839,362. The stock has a market cap of $100.55 billion, a PE ratio of 41.21, a P/E/G ratio of 2.24 and a beta of 1.44. Brookfield Asset Management has a one year low of $39.19 and a one year high of $64.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.31. The stock has a 50 day moving average price of $58.32 and a 200 day moving average price of $55.12.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The company had revenue of $1,107,960 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. Equities research analysts forecast that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Asset Management

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at about $294,730,000. State Street Corp increased its stake in shares of Brookfield Asset Management by 11,172.2% in the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider's stock valued at $194,845,000 after buying an additional 3,493,431 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Brookfield Asset Management by 975.9% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,765,220 shares of the financial services provider's stock valued at $85,463,000 after buying an additional 1,601,155 shares during the period. Geode Capital Management LLC increased its stake in shares of Brookfield Asset Management by 62.4% in the second quarter. Geode Capital Management LLC now owns 3,755,340 shares of the financial services provider's stock valued at $208,571,000 after buying an additional 1,443,441 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Brookfield Asset Management by 461.5% in the first quarter. Millennium Management LLC now owns 1,722,683 shares of the financial services provider's stock valued at $83,464,000 after buying an additional 1,415,866 shares during the period. 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.