Brookfield Asset Management Inc (BAM) is Beutel Goodman & Co Ltd.’s 6th Largest Position

Beutel Goodman & Co Ltd. cut its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2.9% in the 3rd quarter, Holdings Channel reports. The firm owned 15,407,211 shares of the financial services provider’s stock after selling 460,126 shares during the quarter. Brookfield Asset Management comprises 5.0% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 6th largest position. Beutel Goodman & Co Ltd.’s holdings in Brookfield Asset Management were worth $685,223,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Valeo Financial Advisors LLC raised its stake in shares of Brookfield Asset Management by 121.6% in the second quarter. Valeo Financial Advisors LLC now owns 2,555 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 1,402 shares during the last quarter. Squar Milner Financial Services LLC purchased a new stake in shares of Brookfield Asset Management in the second quarter worth approximately $175,000. FineMark National Bank & Trust purchased a new stake in shares of Brookfield Asset Management in the second quarter worth approximately $200,000. Timber Hill LLC purchased a new stake in shares of Brookfield Asset Management during the second quarter valued at approximately $201,000. Finally, Signature Financial Management Inc. purchased a new stake in shares of Brookfield Asset Management during the second quarter valued at approximately $204,000. 60.38% of the stock is owned by hedge funds and other institutional investors.

Shares of BAM opened at $40.75 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.26 and a quick ratio of 1.01. The company has a market cap of $40.23 billion, a P/E ratio of 15.11 and a beta of 1.02. 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 results on Thursday, August 9th. The financial services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.58. The company had revenue of $13.28 billion during the quarter. Brookfield Asset Management had a return on equity of 3.74% and a net margin of 5.49%. The business’s revenue was up 40.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 earnings per share.

A number of analysts recently commented on the company. Royal Bank of Canada increased their price target on Brookfield Asset Management from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. BMO Capital Markets assumed coverage on Brookfield Asset Management in a research report on Thursday, September 20th. They set an “outperform” rating and a $54.00 price target for the company. Finally, Scotiabank set a $53.00 price target on Brookfield Asset Management and gave the company a “buy” rating in a research report on Thursday, October 18th. Five equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $51.70.

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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