CIBC Asset Management Inc boosted its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,665,101 shares of the financial services provider’s stock after acquiring an additional 263,332 shares during the period. Brookfield Asset Management comprises approximately 2.9% of CIBC Asset Management Inc’s portfolio, making the stock its 11th largest position. CIBC Asset Management Inc owned approximately 1.11% of Brookfield Asset Management worth $466,222,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. First Personal Financial Services acquired a new position in Brookfield Asset Management in the fourth quarter valued at $107,000. QS Investors LLC increased its stake in shares of Brookfield Asset Management by 69.8% during the second quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 1,150 shares during the period. Veritas Investment Management UK Ltd acquired a new position in shares of Brookfield Asset Management during the third quarter worth about $149,000. Atlantic Trust LLC acquired a new position in shares of Brookfield Asset Management during the second quarter worth about $191,000. Finally, Cortland Associates Inc. MO acquired a new position in shares of Brookfield Asset Management during the third quarter worth about $209,000. 54.10% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have weighed in on BAM. TheStreet lowered shares of Brookfield Asset Management from a “b-” rating to a “c+” rating in a research report on Thursday, January 25th. Royal Bank of Canada upped their target price on shares of Brookfield Asset Management from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Scotiabank upped their price target on shares of Brookfield Asset Management from $44.75 to $45.50 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, Citigroup reduced their price target on shares of Brookfield Asset Management from $50.00 to $49.50 and set a “buy” rating on the stock in a report on Friday, November 10th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Brookfield Asset Management currently has a consensus rating of “Buy” and an average target price of $47.00.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Thursday, November 9th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter. The company had revenue of $15.40 billion during the quarter. Brookfield Asset Management had a net margin of 1.70% and a return on equity of 0.86%.
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About Brookfield Asset Management
Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.
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