Lincluden Management Ltd. Has $6.20 Million Position in Brookfield Asset Management Inc (NYSE:BAM)

Lincluden Management Ltd. reduced its holdings in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 116,817 shares of the financial services provider’s stock after selling 275 shares during the period. Brookfield Asset Management accounts for about 0.6% of Lincluden Management Ltd.’s portfolio, making the stock its 23rd largest holding. Lincluden Management Ltd.’s holdings in Brookfield Asset Management were worth $6,203,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Brookfield Asset Management by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 23,657,467 shares of the financial services provider’s stock valued at $1,130,353,000 after buying an additional 655,723 shares during the last quarter. CIBC Asset Management Inc increased its stake in Brookfield Asset Management by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 12,832,912 shares of the financial services provider’s stock valued at $681,521,000 after buying an additional 393,356 shares during the last quarter. Beutel Goodman & Co Ltd. increased its stake in Brookfield Asset Management by 3.3% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 10,813,918 shares of the financial services provider’s stock valued at $25,005,000 after buying an additional 348,651 shares during the last quarter. Mawer Investment Management Ltd. increased its stake in Brookfield Asset Management by 3.3% in the 2nd quarter. Mawer Investment Management Ltd. now owns 9,721,487 shares of the financial services provider’s stock valued at $465,982,000 after buying an additional 313,644 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Brookfield Asset Management by 5.5% in the 3rd quarter. Great West Life Assurance Co. Can now owns 8,170,728 shares of the financial services provider’s stock valued at $434,988,000 after buying an additional 425,225 shares during the last quarter. Hedge funds and other institutional investors own 58.04% of the company’s stock.

BAM has been the topic of several recent research reports. BMO Capital Markets lifted their price target on shares of Brookfield Asset Management from $55.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Royal Bank of Canada boosted their price objective on shares of Brookfield Asset Management from $54.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. ValuEngine lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Citigroup boosted their price objective on shares of Brookfield Asset Management from $56.00 to $62.50 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Canaccord Genuity set a $62.00 price objective on shares of Brookfield Asset Management and gave the stock a “buy” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $59.92.

Shares of Brookfield Asset Management stock traded up $0.62 during trading on Monday, hitting $57.00. 870,230 shares of the stock were exchanged, compared to its average volume of 1,491,322. The stock has a market capitalization of $59.27 billion, a price-to-earnings ratio of 19.16 and a beta of 1.05. The company has a fifty day moving average price of $53.59 and a 200-day moving average price of $50.15. Brookfield Asset Management Inc has a 1-year low of $36.58 and a 1-year high of $57.07. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.29.

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, topping the consensus estimate of $0.11 by $0.25. The company had revenue of $16.92 billion for the quarter, compared to analyst estimates of $14.30 billion. Brookfield Asset Management had a net margin of 4.86% and a return on equity of 3.31%. Brookfield Asset Management’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS.

Brookfield Asset Management 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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