Manitou Investment Management Ltd. Has $23.14 Million Stock Position in Brookfield Asset Management Inc (NYSE:BAM)

Manitou Investment Management Ltd. trimmed its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 435,603 shares of the financial services provider’s stock after selling 11,358 shares during the period. Brookfield Asset Management accounts for 5.6% of Manitou Investment Management Ltd.’s portfolio, making the stock its 8th largest position. Manitou Investment Management Ltd.’s holdings in Brookfield Asset Management were worth $23,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BAM. Westfield Capital Management Co. LP bought a new position in shares of Brookfield Asset Management in the 2nd quarter worth $75,425,000. Syquant Capital Sas bought a new position in shares of Brookfield Asset Management in the 3rd quarter worth $58,170,000. National Pension Service bought a new position in shares of Brookfield Asset Management in the 2nd quarter worth $62,289,000. JPMorgan Chase & Co. raised its position in shares of Brookfield Asset Management by 46.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,477,346 shares of the financial services provider’s stock worth $118,096,000 after acquiring an additional 783,794 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Brookfield Asset Management by 783.4% in the 2nd quarter. Renaissance Technologies LLC now owns 792,375 shares of the financial services provider’s stock worth $37,906,000 after acquiring an additional 702,675 shares in the last quarter. 58.04% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on BAM shares. Citigroup upped their target price on Brookfield Asset Management from $56.00 to $62.50 and gave the company a “buy” rating in a research report on Friday, September 27th. ValuEngine lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upped their target price on Brookfield Asset Management from $54.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. TD Securities upped their target price on Brookfield Asset Management from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, BMO Capital Markets upped their target price on Brookfield Asset Management from $55.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $59.92.

NYSE:BAM traded down $0.18 during mid-day trading on Friday, hitting $56.38. 902,924 shares of the company’s stock traded hands, compared to its average volume of 1,494,184. The company has a fifty day moving average of $53.59 and a 200 day moving average of $50.15. Brookfield Asset Management Inc has a twelve month low of $36.58 and a twelve month high of $56.86. The company has a market capitalization of $59.27 billion, a P/E ratio of 19.16 and a beta of 1.05. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.87 and a current ratio of 1.11.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.25. Brookfield Asset Management had a return on equity of 3.31% and a net margin of 4.86%. The company had revenue of $16.92 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same period in the prior year, the company posted $0.77 EPS. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year.

Brookfield Asset Management Company Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

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Institutional Ownership by Quarter for Brookfield Asset Management (NYSE:BAM)

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