Massachusetts Financial Services Co. MA Has $14.26 Million Stock Holdings in Brookfield Asset Management Inc (NYSE:BAM)

Massachusetts Financial Services Co. MA lifted its holdings in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 15.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 268,573 shares of the financial services provider’s stock after purchasing an additional 34,991 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Brookfield Asset Management were worth $14,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Strategic Blueprint LLC acquired a new position in shares of Brookfield Asset Management in the 3rd quarter valued at approximately $25,000. HM Payson & Co. acquired a new position in shares of Brookfield Asset Management in the 2nd quarter valued at approximately $32,000. KCS Wealth Advisory acquired a new position in shares of Brookfield Asset Management in the 3rd quarter valued at approximately $40,000. Benjamin F. Edwards & Company Inc. grew its position in shares of Brookfield Asset Management by 103.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 808 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 410 shares during the period. Finally, Prime Capital Investment Advisors LLC acquired a new position in shares of Brookfield Asset Management in the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Several equities research analysts have commented on BAM shares. Citigroup boosted their target price on Brookfield Asset Management from $56.00 to $62.50 and gave the company a “buy” rating in a research note on Friday, September 27th. BMO Capital Markets boosted their target price on Brookfield Asset Management from $59.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada boosted their target price on Brookfield Asset Management from $54.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. ValuEngine cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Canaccord Genuity set a $62.00 target price on Brookfield Asset Management and gave the company a “buy” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $61.25.

NYSE BAM opened at $57.42 on Monday. The stock has a market capitalization of $60.49 billion, a price-to-earnings ratio of 15.52 and a beta of 1.05. The stock’s 50 day moving average price is $54.00 and its two-hundred day moving average price is $50.42. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.87 and a current ratio of 1.11. Brookfield Asset Management Inc has a 52 week low of $36.58 and a 52 week high of $58.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Thursday, November 14th. The financial services provider reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.80. The firm had revenue of $17.88 billion for the quarter, compared to analysts’ expectations of $13.92 billion. Brookfield Asset Management had a return on equity of 4.03% and a net margin of 5.82%. The business’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.11%. The ex-dividend date is Wednesday, November 27th.

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

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