Wells Fargo & Company MN lifted its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,242,309 shares of the financial services provider’s stock after buying an additional 119,293 shares during the quarter. Wells Fargo & Company MN owned approximately 0.13% of Brookfield Asset Management worth $51,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in BAM. FMR LLC boosted its holdings in Brookfield Asset Management by 18.9% in the second quarter. FMR LLC now owns 25,066,960 shares of the financial services provider’s stock worth $983,697,000 after purchasing an additional 3,980,816 shares during the period. CIBC Asset Management Inc boosted its holdings in Brookfield Asset Management by 10.1% in the third quarter. CIBC Asset Management Inc now owns 10,401,769 shares of the financial services provider’s stock worth $428,356,000 after purchasing an additional 956,713 shares during the period. Mcdonald Capital Investors Inc. CA acquired a new position in Brookfield Asset Management in the second quarter worth $35,621,000. Alps Advisors Inc. acquired a new position in Brookfield Asset Management in the second quarter worth $32,066,000. Finally, CI Investments Inc. boosted its holdings in Brookfield Asset Management by 41.4% in the third quarter. CI Investments Inc. now owns 2,589,015 shares of the financial services provider’s stock worth $106,926,000 after purchasing an additional 758,205 shares during the period. 54.61% of the stock is owned by institutional investors and hedge funds.

Shares of Brookfield Asset Management Inc (NYSE BAM) opened at $43.35 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.29 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $41,588.95, a price-to-earnings ratio of 96.33 and a beta of 1.04. Brookfield Asset Management Inc has a one year low of $32.65 and a one year high of $43.48.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.66%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 124.45%.

BAM has been the subject of a number of research reports. Scotiabank lifted their price objective on shares of Brookfield Asset Management from $42.75 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, October 11th. ValuEngine downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. Citigroup lifted their price objective on shares of Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, August 15th. TheStreet downgraded shares of Brookfield Asset Management from a “b” rating to a “c+” rating in a report on Thursday, November 16th. Finally, Royal Bank Of Canada lifted their price objective on shares of Brookfield Asset Management from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $47.00.

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Brookfield Asset Management Company 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.

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

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