Taylor Hoffman Wealth Management grew its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 7.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,827 shares of the financial services provider’s stock after acquiring an additional 3,700 shares during the quarter. Brookfield Asset Management makes up approximately 2.0% of Taylor Hoffman Wealth Management’s holdings, making the stock its 7th largest position. Taylor Hoffman Wealth Management’s holdings in Brookfield Asset Management were worth $2,858,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of BAM. Strategic Blueprint LLC bought a new stake in shares of Brookfield Asset Management in the 3rd quarter worth about $25,000. HM Payson & Co. acquired a new stake in Brookfield Asset Management during the 2nd quarter worth approximately $32,000. KCS Wealth Advisory acquired a new stake in Brookfield Asset Management during the 3rd quarter worth approximately $40,000. Wealthcare Advisory Partners LLC increased its position in Brookfield Asset Management by 111.9% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 858 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 453 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in Brookfield Asset Management by 233.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 979 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 685 shares in the last quarter. Institutional investors and hedge funds own 58.04% of the company’s stock.
BAM has been the subject of a number of analyst reports. Canaccord Genuity set a $62.00 price target on Brookfield Asset Management and gave the stock a “buy” rating in a report on Friday, September 27th. TD Securities increased their price target 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. BMO Capital Markets increased their price target 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. ValuEngine lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada increased their price target 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. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Brookfield Asset Management presently has a consensus rating of “Buy” and an average price target of $59.92.
Shares of NYSE:BAM traded down $0.18 during midday trading on Friday, reaching $56.38. The company had a trading volume of 902,924 shares, compared to its average volume of 1,494,184. 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 Inc has a 1-year low of $36.58 and a 1-year high of $56.86. The firm has a market cap of $59.27 billion, a price-to-earnings ratio of 19.16 and a beta of 1.05. The company has a fifty 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 announced its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ 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 return on equity of 3.31% and a net margin of 4.86%. Brookfield Asset Management’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS.
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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