Cumberland Partners Ltd lessened its holdings in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 12.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,396 shares of the financial services provider’s stock after selling 28,000 shares during the period. Brookfield Asset Management makes up approximately 1.1% of Cumberland Partners Ltd’s portfolio, making the stock its 29th biggest holding. Cumberland Partners Ltd’s holdings in Brookfield Asset Management were worth $8,129,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. QS Investors LLC grew its holdings in Brookfield Asset Management by 69.8% during the second quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 1,150 shares during the period. Atlantic Trust LLC acquired a new stake in Brookfield Asset Management in the second quarter valued at $191,000. Cortland Associates Inc. MO acquired a new stake in Brookfield Asset Management in the third quarter valued at $209,000. Visionary Asset Management Inc. acquired a new stake in Brookfield Asset Management in the second quarter valued at $201,000. Finally, HM Payson & Co. acquired a new stake in Brookfield Asset Management in the second quarter valued at $203,000. 52.28% of the stock is currently owned by hedge funds and other institutional investors.

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Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Thursday, August 10th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.28). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $5.27 billion. Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The business’s revenue was up 58.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 earnings per share.

Several analysts have weighed in on BAM shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $45.00 target price on shares of Brookfield Asset Management in a report on Friday, July 14th. TD Securities upped their target price on Brookfield Asset Management from $47.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 11th. Scotiabank upped their target price on Brookfield Asset Management from $41.75 to $42.50 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Royal Bank Of Canada upped their target price on Brookfield Asset Management from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, August 11th. Finally, Citigroup Inc. upped their target price on Brookfield Asset Management from $45.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Brookfield Asset Management presently has an average rating of “Buy” and an average target price of $48.17.

Brookfield Asset Management Profile

Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.

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

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