Smith Salley & Associates Buys 6,318 Shares of Brookfield Asset Management Inc (BAM)

Smith Salley & Associates lifted its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,031 shares of the financial services provider’s stock after buying an additional 6,318 shares during the period. Smith Salley & Associates’ holdings in Brookfield Asset Management were worth $7,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BAM. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Brookfield Asset Management by 149.1% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,000,000 shares of the financial services provider’s stock valued at $243,248,000 after buying an additional 3,591,058 shares during the period. Toronto Dominion Bank boosted its stake in shares of Brookfield Asset Management by 49.6% in the second quarter. Toronto Dominion Bank now owns 10,739,583 shares of the financial services provider’s stock valued at $434,794,000 after buying an additional 3,559,779 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Brookfield Asset Management by 9.0% in the first 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 buying an additional 2,289,553 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Brookfield Asset Management by 182.7% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,974,800 shares of the financial services provider’s stock valued at $158,646,000 after buying an additional 1,922,500 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Brookfield Asset Management by 5.7% in the second quarter. CIBC Asset Management Inc now owns 13,109,534 shares of the financial services provider’s stock valued at $531,898,000 after buying an additional 702,311 shares during the period. Institutional investors and hedge funds own 60.40% of the company’s stock.

Several equities research analysts recently issued reports on the company. BMO Capital Markets began coverage on Brookfield Asset Management in a research note on Thursday, September 20th. They issued an “outperform” rating and a $54.00 price target for the company. Scotiabank restated a “buy” rating and set a $50.50 target price on shares of Brookfield Asset Management in a research note on Tuesday, August 7th. Credit Suisse Group upgraded Brookfield Asset Management from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $44.00 to $50.00 in a research note on Friday. Royal Bank of Canada upped their target price on Brookfield Asset Management from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. Finally, TD Securities upped their target price on Brookfield Asset Management from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday. Six equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $51.75.

NYSE BAM opened at $43.29 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.26 and a quick ratio of 1.01. Brookfield Asset Management Inc has a fifty-two week low of $37.22 and a fifty-two week high of $45.04. 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 (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Thursday, November 8th. The financial services provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.21). Brookfield Asset Management had a return on equity of 3.74% and a net margin of 5.49%. The business had revenue of $14.86 billion for the quarter. During the same period in the previous year, the firm earned $0.79 EPS. Brookfield Asset Management’s revenue was up 21.0% on a year-over-year basis.

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Brookfield Asset Management Profile

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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