Delta Investment Management LLC Has $4.08 Million Stock Position in Brookfield Asset Management Inc (NYSE:BAM)

Delta Investment Management LLC lowered its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 3.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 76,942 shares of the financial services provider’s stock after selling 2,625 shares during the period. Brookfield Asset Management makes up 2.1% of Delta Investment Management LLC’s portfolio, making the stock its 13th largest holding. Delta Investment Management LLC’s holdings in Brookfield Asset Management were worth $4,084,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in BAM. Westfield Capital Management Co. LP acquired a new position in Brookfield Asset Management in the 2nd quarter valued at about $75,425,000. Syquant Capital Sas acquired a new position in Brookfield Asset Management in the 3rd quarter valued at about $58,170,000. National Pension Service acquired a new position in Brookfield Asset Management in the 2nd quarter valued at about $62,289,000. JPMorgan Chase & Co. grew its stake in Brookfield Asset Management by 46.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,477,346 shares of the financial services provider’s stock valued at $118,096,000 after buying an additional 783,794 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Brookfield Asset Management by 783.4% in the 2nd quarter. Renaissance Technologies LLC now owns 792,375 shares of the financial services provider’s stock valued at $37,906,000 after buying an additional 702,675 shares during the last quarter. Institutional investors and hedge funds own 58.04% of the company’s stock.

BAM has been the topic of a number of research reports. 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. Canaccord Genuity set a $62.00 target price on shares of Brookfield Asset Management and gave the stock a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada increased their target price on shares of Brookfield Asset Management from $54.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Citigroup increased their target price on shares of Brookfield Asset Management from $56.00 to $62.50 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, ValuEngine lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Brookfield Asset Management presently has an average rating of “Buy” and an average target price of $59.92.

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Shares of NYSE:BAM opened at $56.38 on Friday. The company’s 50 day moving average price is $53.59 and its two-hundred day moving average price is $50.15. Brookfield Asset Management Inc has a 12-month low of $36.58 and a 12-month high of $56.86. The firm has a market cap of $59.27 billion, a PE ratio of 19.16 and a beta of 1.05. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.29.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping 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 firm 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. The business’s revenue was up 27.5% compared to the same quarter last year.

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.

Further Reading: What is the return on assets (ROA) ratio?

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

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