Allen Investment Management LLC decreased its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,650 shares of the financial services provider’s stock after selling 218 shares during the period. Allen Investment Management LLC’s holdings in Brookfield Asset Management were worth $574,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Brookfield Asset Management by 0.7% in the first quarter. Principal Financial Group Inc. now owns 25,567,307 shares of the financial services provider’s stock worth $932,179,000 after buying an additional 169,650 shares during the last quarter. TD Asset Management Inc. increased its stake in Brookfield Asset Management by 2.4% in the second quarter. TD Asset Management Inc. now owns 21,728,082 shares of the financial services provider’s stock worth $851,423,000 after buying an additional 518,648 shares during the last quarter. Vanguard Group Inc. increased its stake in Brookfield Asset Management by 5.0% in the first quarter. Vanguard Group Inc. now owns 18,673,540 shares of the financial services provider’s stock worth $680,837,000 after buying an additional 896,182 shares during the last quarter. First Manhattan Co. increased its stake in Brookfield Asset Management by 2.3% in the second quarter. First Manhattan Co. now owns 16,439,611 shares of the financial services provider’s stock worth $644,597,000 after buying an additional 363,367 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in Brookfield Asset Management by 4.0% in the first quarter. Mackenzie Financial Corp now owns 10,849,744 shares of the financial services provider’s stock worth $395,582,000 after buying an additional 414,030 shares during the last quarter. Hedge funds and other institutional investors own 53.81% of the company’s stock.

Shares of Brookfield Asset Management Inc (NYSE BAM) opened at 39.22 on Thursday. The stock has a 50 day moving average of $39.03 and a 200 day moving average of $37.72. Brookfield Asset Management Inc has a 1-year low of $32.04 and a 1-year high of $40.09. The stock has a market cap of $37.60 billion, a PE ratio of 30.43 and a beta of 1.03.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly 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. Brookfield Asset Management had a net margin of 4.87% and a return on equity of 2.10%. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $5.27 billion. During the same period in the prior year, the firm earned $0.15 earnings per share. The business’s quarterly revenue was up 58.1% compared to the same quarter last year. Equities research analysts forecast that Brookfield Asset Management Inc will post $1.08 EPS for the current year.

Brookfield Asset Management declared that its board has initiated a share buyback plan on Friday, May 19th that allows the company to repurchase 82,960,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a $0.14 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.43%. Brookfield Asset Management’s dividend payout ratio is 43.75%.

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A number of analysts have commented on BAM shares. Royal Bank Of Canada increased their price objective on shares of Brookfield Asset Management from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, May 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $45.00 price objective on shares of Brookfield Asset Management in a report on Friday, May 12th. TD Securities reiterated a “buy” rating on shares of Brookfield Asset Management in a report on Saturday, May 13th. ValuEngine downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $43.56.

About Brookfield Asset Management

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.

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

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