Russell Investments Group Ltd. Boosts Holdings in Brookfield Asset Management Inc (BAM)

Russell Investments Group Ltd. raised its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 18.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 359,080 shares of the financial services provider’s stock after acquiring an additional 55,024 shares during the period. Russell Investments Group Ltd.’s holdings in Brookfield Asset Management were worth $15,888,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BAM. Dimensional Fund Advisors LP increased its position in Brookfield Asset Management by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 45,246 shares of the financial services provider’s stock valued at $1,765,000 after purchasing an additional 1,296 shares during the period. Principal Financial Group Inc. increased its position in Brookfield Asset Management by 9.0% during the 1st quarter. Principal Financial Group Inc. now owns 27,657,747 shares of the financial services provider’s stock valued at $1,078,648,000 after purchasing an additional 2,289,553 shares during the period. LPL Financial LLC increased its position in Brookfield Asset Management by 12.5% during the 1st quarter. LPL Financial LLC now owns 17,644 shares of the financial services provider’s stock valued at $688,000 after purchasing an additional 1,960 shares during the period. Atria Investments LLC purchased a new position in Brookfield Asset Management during the 2nd quarter valued at $222,000. Finally, Rathbone Brothers plc increased its position in Brookfield Asset Management by 32.9% during the 2nd quarter. Rathbone Brothers plc now owns 86,067 shares of the financial services provider’s stock valued at $3,489,000 after purchasing an additional 21,283 shares during the period. 60.40% of the stock is owned by hedge funds and other institutional investors.

BAM has been the topic of a number of research analyst reports. BMO Capital Markets initiated coverage on shares of Brookfield Asset Management in a research report on Thursday, September 20th. They set an “outperform” rating and a $54.00 price objective on the stock. Royal Bank of Canada boosted their price objective on shares of Brookfield Asset Management from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. Scotiabank reissued a “buy” rating and set a $50.50 price objective on shares of Brookfield Asset Management in a research report on Tuesday, August 7th. TD Securities boosted their price objective on shares of Brookfield Asset Management from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Friday. Finally, Credit Suisse Group raised shares of Brookfield Asset Management from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $44.00 to $50.00 in a research report on Friday. Six equities research analysts have rated the stock with a buy rating, Brookfield Asset Management currently has a consensus rating of “Buy” and a consensus target price of $51.75.

Shares of Brookfield Asset Management stock opened at $43.29 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 1.05. The firm has a market cap of $41.49 billion, a price-to-earnings ratio of 15.58 and a beta of 1.03. Brookfield Asset Management Inc has a 12-month low of $37.22 and a 12-month high of $45.04.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Thursday, November 8th. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.21). The company had revenue of $14.86 billion for the quarter. Brookfield Asset Management had a net margin of 5.49% and a return on equity of 3.74%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share.

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About Brookfield Asset Management

Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.

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

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