Oak Grove Capital LLC grew its holdings in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 16.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,500 shares of the financial services provider’s stock after buying an additional 7,000 shares during the period. Brookfield Asset Management accounts for approximately 1.7% of Oak Grove Capital LLC’s holdings, making the stock its 14th biggest position. Oak Grove Capital LLC’s holdings in Brookfield Asset Management were worth $1,937,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in BAM. YorkBridge Wealth Partners LLC boosted its stake in Brookfield Asset Management by 116.0% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 838 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 450 shares during the period. Csenge Advisory Group purchased a new position in shares of Brookfield Asset Management during the third quarter valued at $62,000. SeaBridge Investment Advisors LLC increased its stake in shares of Brookfield Asset Management by 62.5% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 1,950 shares of the financial services provider’s stock valued at $75,000 after buying an additional 750 shares during the period. Signet Investment Advisory Group Inc. purchased a new position in shares of Brookfield Asset Management during the fourth quarter valued at $88,000. Finally, Athena Capital Advisors LLC bought a new stake in Brookfield Asset Management during the fourth quarter valued at about $92,000. Institutional investors own 62.26% of the company’s stock.
Several brokerages have weighed in on BAM. Credit Suisse Group set a $50.00 price target on Brookfield Asset Management and gave the stock a “buy” rating in a report on Sunday, December 23rd. TD Securities lifted their price target on Brookfield Asset Management from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, February 15th. Finally, Royal Bank of Canada lifted their price target on Brookfield Asset Management from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, February 19th. Six research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $52.75.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Thursday, February 14th. The financial services provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $0.15 by $1.72. The firm had revenue of $16.01 billion during the quarter. Brookfield Asset Management had a return on equity of 4.30% and a net margin of 6.31%. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 earnings per share.
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Brookfield Asset Management Profile
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.
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