Brookfield Asset Management (NYSE:BAM) Price Target Raised to $62.00 at Jefferies Financial Group

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) had its price target raised by Jefferies Financial Group from $55.00 to $62.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s target price would indicate a potential downside of 0.29% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $53.00 to $56.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th. Scotiabank raised their target price on Brookfield Asset Management from $66.00 to $67.25 and gave the company a “sector outperform” rating in a report on Thursday, August 7th. National Bankshares set a $71.00 target price on Brookfield Asset Management and gave the company an “outperform” rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $58.00 target price on shares of Brookfield Asset Management in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.33.

Brookfield Asset Management Price Performance

BAM opened at $62.18 on Wednesday. The stock has a market cap of $100.30 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 2.26 and a beta of 1.44. Brookfield Asset Management has a 1 year low of $39.19 and a 1 year high of $64.10. The company has a current ratio of 1.25, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $58.25 and a 200 day moving average price of $55.16.

Hedge Funds Weigh In On Brookfield Asset Management

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider’s stock worth $832,833,000 after purchasing an additional 302,852 shares during the period. Capital International Investors increased its stake in shares of Brookfield Asset Management by 0.7% in the fourth quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider’s stock worth $873,354,000 after purchasing an additional 116,008 shares during the period. TD Asset Management Inc increased its stake in shares of Brookfield Asset Management by 1.6% in the second quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider’s stock worth $861,101,000 after purchasing an additional 250,068 shares during the period. Mackenzie Financial Corp increased its stake in Brookfield Asset Management by 2.5% during the second quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider’s stock valued at $631,412,000 after acquiring an additional 282,853 shares during the period. Finally, Norges Bank bought a new position in Brookfield Asset Management during the second quarter valued at about $294,730,000. 68.41% of the stock is currently owned by institutional investors.

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.