Gamco Investors INC. ET AL Boosts Holdings in Brookfield Asset Management Inc (NYSE:BAM)

Gamco Investors INC. ET AL boosted its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 7.6% in the third quarter, HoldingsChannel reports. The fund owned 58,202 shares of the financial services provider’s stock after purchasing an additional 4,129 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Brookfield Asset Management were worth $3,090,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Brookfield Asset Management during the third quarter valued at approximately $821,000. Teton Advisors Inc. purchased a new stake in Brookfield Asset Management during the third quarter valued at approximately $403,000. Synovus Financial Corp lifted its position in Brookfield Asset Management by 0.9% during the third quarter. Synovus Financial Corp now owns 50,150 shares of the financial services provider’s stock valued at $2,666,000 after acquiring an additional 463 shares during the last quarter. Atlas Capital Advisors LLC lifted its position in Brookfield Asset Management by 15.6% during the third quarter. Atlas Capital Advisors LLC now owns 5,781 shares of the financial services provider’s stock valued at $307,000 after acquiring an additional 780 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Brookfield Asset Management by 2.2% during the third quarter. Russell Investments Group Ltd. now owns 405,301 shares of the financial services provider’s stock valued at $21,592,000 after acquiring an additional 8,758 shares during the last quarter. 58.04% of the stock is owned by institutional investors.

Brookfield Asset Management stock traded down $0.18 during mid-day trading on Friday, reaching $56.38. 902,924 shares of the company traded hands, compared to its average volume of 1,494,184. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.11 and a quick ratio of 0.87. Brookfield Asset Management Inc has a fifty-two week low of $36.58 and a fifty-two week high of $56.86. The company has a market capitalization of $59.27 billion, a price-to-earnings ratio of 19.16 and a beta of 1.05. The firm’s fifty day moving average is $53.59 and its two-hundred day moving average is $50.15.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.25. Brookfield Asset Management had a net margin of 4.86% and a return on equity of 3.31%. The business had revenue of $16.92 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the prior year, the business posted $0.77 EPS. Brookfield Asset Management’s revenue for the quarter was up 27.5% compared to the same quarter last year.

A number of equities research analysts recently commented on the stock. Royal Bank of Canada increased their target price on shares of Brookfield Asset Management from $54.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Citigroup upped their price target on shares of Brookfield Asset Management from $56.00 to $62.50 and gave the company a “buy” rating in a research note on Friday, September 27th. ValuEngine lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. BMO Capital Markets upped their price target on shares of Brookfield Asset Management from $55.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, TD Securities upped their price target on shares of Brookfield Asset Management from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $59.92.

Brookfield Asset Management Company 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.

Read More: Market Capitalization – What it Means for Investors

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

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