Taylor Hoffman Wealth Management raised its holdings in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 7.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,827 shares of the financial services provider’s stock after purchasing an additional 3,700 shares during the period. Brookfield Asset Management accounts for 2.0% of Taylor Hoffman Wealth Management’s portfolio, making the stock its 7th largest position. Taylor Hoffman Wealth Management’s holdings in Brookfield Asset Management were worth $2,858,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Insight Partners LLC raised its position in shares of Brookfield Asset Management by 2.3% during the 2nd quarter. Capital Insight Partners LLC now owns 20,317 shares of the financial services provider’s stock valued at $971,000 after purchasing an additional 457 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Brookfield Asset Management by 1.0% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 88,355 shares of the financial services provider’s stock valued at $4,222,000 after purchasing an additional 898 shares during the period. Sanders Morris Harris LLC acquired a new position in shares of Brookfield Asset Management in the 2nd quarter valued at $577,000. Hexavest Inc. boosted its position in shares of Brookfield Asset Management by 6.4% in the 2nd quarter. Hexavest Inc. now owns 327,091 shares of the financial services provider’s stock valued at $15,682,000 after purchasing an additional 19,744 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in Brookfield Asset Management during the 2nd quarter worth about $2,891,000. 58.04% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE BAM traded down $0.18 during mid-day trading on Friday, hitting $56.38. 902,924 shares of the stock traded hands, compared to its average volume of 1,494,184. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.11 and a quick ratio of 0.87. 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 cap of $59.27 billion, a PE ratio of 19.16 and a beta of 1.05. The firm has a 50 day simple moving average of $53.59 and a two-hundred day simple moving average of $50.15.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.36 earnings per share 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 the consensus estimate of $14.30 billion. During the same quarter last year, the business posted $0.77 EPS. Brookfield Asset Management’s revenue for the quarter was up 27.5% on a year-over-year basis.
BAM has been the subject of a number of research reports. Canaccord Genuity set a $62.00 price objective on Brookfield Asset Management and gave the stock a “buy” rating in a research report on Friday, September 27th. Citigroup raised their target price on Brookfield Asset Management from $56.00 to $62.50 and gave the company a “buy” rating in a report on Friday, September 27th. TD Securities raised their target price on Brookfield Asset Management from $67.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Royal Bank of Canada raised their target price on Brookfield Asset Management from $54.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Finally, ValuEngine downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $59.92.
About Brookfield Asset Management
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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