Brookfield Asset Management Inc (BAM) Holdings Increased by Beck Mack & Oliver LLC
Beck Mack & Oliver LLC boosted its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 753,949 shares of the financial services provider’s stock after acquiring an additional 9,829 shares during the period. Brookfield Asset Management comprises approximately 1.2% of Beck Mack & Oliver LLC’s holdings, making the stock its 29th biggest holding. Beck Mack & Oliver LLC owned 0.08% of Brookfield Asset Management worth $28,914,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Csenge Advisory Group purchased a new stake in Brookfield Asset Management in the 3rd quarter worth approximately $62,000. Signet Investment Advisory Group Inc. purchased a new stake in Brookfield Asset Management in the 4th quarter worth approximately $88,000. Capital Bank & Trust Co purchased a new stake in Brookfield Asset Management in the 3rd quarter worth approximately $125,000. First Personal Financial Services grew its stake in Brookfield Asset Management by 9.4% in the 4th quarter. First Personal Financial Services now owns 3,417 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 293 shares during the period. Finally, Capital Guardian Trust Co. purchased a new stake in Brookfield Asset Management in the 3rd quarter worth approximately $147,000. 60.60% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. Citigroup assumed coverage on shares of Brookfield Asset Management in a research note on Tuesday, November 13th. They issued a “buy” rating and a $49.50 target price for the company. TD Securities lifted their price target on shares of Brookfield Asset Management from $56.00 to $57.00 and gave the company a “buy” rating in a report on Friday, November 9th. Credit Suisse Group upgraded shares of Brookfield Asset Management from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $44.00 to $50.00 in a report on Friday, November 9th. Finally, Scotiabank set a $53.00 price target on shares of Brookfield Asset Management and gave the company a “buy” rating in a report on Thursday, October 18th. Six equities research analysts have rated the stock with a buy rating, Brookfield Asset Management presently has a consensus rating of “Buy” and an average price target of $51.75.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Thursday, November 8th. The financial services provider reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.21). The company had revenue of $14.86 billion during the quarter. Brookfield Asset Management had a net margin of 5.10% and a return on equity of 3.52%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS.
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Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.
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