Culbertson A N & Co. Inc. Cuts Position in Brookfield Asset Management Inc (BAM)

Culbertson A N & Co. Inc. cut its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 1.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,919 shares of the financial services provider’s stock after selling 1,460 shares during the period. Culbertson A N & Co. Inc.’s holdings in Brookfield Asset Management were worth $3,588,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc lifted its stake in Brookfield Asset Management by 2.9% in the third quarter. Vanguard Group Inc now owns 21,512,690 shares of the financial services provider’s stock worth $957,960,000 after purchasing an additional 607,328 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Brookfield Asset Management by 36.0% in the fourth quarter. Mackenzie Financial Corp now owns 12,258,486 shares of the financial services provider’s stock worth $470,113,000 after purchasing an additional 3,244,827 shares during the last quarter. Jarislowsky Fraser Ltd lifted its stake in Brookfield Asset Management by 62.6% in the fourth quarter. Jarislowsky Fraser Ltd now owns 10,478,325 shares of the financial services provider’s stock worth $401,395,000 after purchasing an additional 4,033,441 shares during the last quarter. Mawer Investment Management Ltd. lifted its stake in Brookfield Asset Management by 1.0% in the fourth quarter. Mawer Investment Management Ltd. now owns 9,301,933 shares of the financial services provider’s stock worth $358,621,000 after purchasing an additional 92,667 shares during the last quarter. Finally, CI Investments Inc. lifted its stake in Brookfield Asset Management by 13.3% in the fourth quarter. CI Investments Inc. now owns 8,855,710 shares of the financial services provider’s stock worth $339,616,000 after purchasing an additional 1,037,416 shares during the last quarter. Institutional investors own 64.69% of the company’s stock.

Several research firms have weighed in on BAM. BMO Capital Markets reissued a “buy” rating on shares of Brookfield Asset Management in a research note on Friday, April 5th. Credit Suisse Group set a $50.00 price target on shares of Brookfield Asset Management and gave the stock a “buy” rating in a research note on Sunday, December 30th. Royal Bank of Canada boosted their price target on shares of Brookfield Asset Management from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 19th. Finally, TD Securities boosted their price target on shares of Brookfield Asset Management from $57.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, February 15th. Six investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $52.75.

Shares of NYSE:BAM traded down $0.36 during midday trading on Wednesday, hitting $47.60. 65,080 shares of the stock traded hands, compared to its average volume of 1,519,217. The company has a market cap of $47.53 billion, a price-to-earnings ratio of 13.96 and a beta of 1.18. The company has a current ratio of 1.30, a quick ratio of 1.08 and a debt-to-equity ratio of 1.20. Brookfield Asset Management Inc has a one year low of $36.58 and a one year high of $48.25.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Thursday, February 14th. The financial services provider reported $1.87 EPS 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 net margin of 6.31% and a return on equity of 4.36%. The business’s revenue was up 22.5% on a year-over-year basis. During the same period last year, the company posted $1.28 earnings per share.

COPYRIGHT VIOLATION WARNING: “Culbertson A N & Co. Inc. Cuts Position in Brookfield Asset Management Inc (BAM)” was originally posted by PressOracle and is the property of of PressOracle. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://pressoracle.com/news/2019/04/17/culbertson-a-n-co-inc-cuts-position-in-brookfield-asset-management-inc-bam.html.

About Brookfield Asset Management

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.

Featured Article: What is the QQQ ETF?

Want to see what other hedge funds are holding BAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A).

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

Receive News & Ratings for Brookfield Asset Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management and related companies with MarketBeat.com's FREE daily email newsletter.