Gilbert & Cook Inc. grew its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 13.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,632 shares of the financial services provider’s stock after buying an additional 904 shares during the quarter. Gilbert & Cook Inc.’s holdings in Brookfield Asset Management were worth $405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in BAM. Fishman Jay A Ltd. MI raised its holdings in shares of Brookfield Asset Management by 4.5% in the 3rd quarter. Fishman Jay A Ltd. MI now owns 4,650 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 200 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Brookfield Asset Management by 103.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 808 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 410 shares in the last quarter. Taylor Hoffman Wealth Management raised its holdings in shares of Brookfield Asset Management by 7.4% in the 3rd quarter. Taylor Hoffman Wealth Management now owns 53,827 shares of the financial services provider’s stock worth $2,858,000 after purchasing an additional 3,700 shares in the last quarter. Arthur M. Cohen & Associates LLC raised its holdings in shares of Brookfield Asset Management by 31.4% in the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 7,324 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of Brookfield Asset Management by 693.8% in the 3rd quarter. Alps Advisors Inc. now owns 147,650 shares of the financial services provider’s stock worth $7,839,000 after purchasing an additional 129,050 shares in the last quarter. Institutional investors own 58.04% of the company’s stock.

Shares of BAM stock traded down $0.18 during trading hours on Friday, reaching $56.38. 902,924 shares of the stock traded hands, compared to its average volume of 1,494,184. Brookfield Asset Management Inc has a 1-year low of $36.58 and a 1-year high of $56.86. The business has a fifty day moving average price of $53.59 and a 200 day moving average price of $50.15. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $59.27 billion, a PE ratio of 19.16 and a beta of 1.05.

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

A number of analysts recently commented on BAM shares. Citigroup boosted their target price on shares of Brookfield Asset Management from $56.00 to $62.50 and gave the stock a “buy” rating in a report on Friday, September 27th. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $55.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Royal Bank of Canada boosted their target price on shares of Brookfield Asset Management from $54.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. ValuEngine downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Canaccord Genuity set a $62.00 target price on shares of Brookfield Asset Management and gave the stock a “buy” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The company presently 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.

Further Reading: Initial Coin Offerings entail a high degree of risk

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

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