Janney Montgomery Scott LLC boosted its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 20,320 shares of the financial services provider’s stock after buying an additional 405 shares during the period. Janney Montgomery Scott LLC’s holdings in Brookfield Asset Management were worth $797,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of 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 period. TD Asset Management Inc. increased its stake in Brookfield Asset Management by 3.3% in the first quarter. TD Asset Management Inc. now owns 21,209,434 shares of the financial services provider’s stock worth $770,515,000 after buying an additional 673,510 shares during the period. 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 period. First Manhattan Co. increased its stake in Brookfield Asset Management by 2.8% in the first quarter. First Manhattan Co. now owns 17,365,695 shares of the financial services provider’s stock worth $610,925,000 after buying an additional 469,331 shares during the period. 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 period. 53.96% of the stock is owned by institutional investors.

Brookfield Asset Management Inc (NYSE:BAM) opened at 38.82 on Wednesday. Brookfield Asset Management Inc has a 52 week low of $32.04 and a 52 week high of $40.09. The company has a 50 day moving average price of $39.05 and a 200-day moving average price of $37.50. The company has a market capitalization of $43.67 billion, a P/E ratio of 36.31 and a beta of 1.03.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 EPS for the quarter, missing the 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 company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $5.27 billion. During the same period last year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was up 58.1% on a year-over-year basis. On average, equities analysts anticipate that Brookfield Asset Management Inc will post $0.99 earnings per share for the current fiscal year.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.56 annualized dividend and a yield of 1.44%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 43.75%.

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A number of equities research analysts have recently weighed in on BAM shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $45.00 price target on shares of Brookfield Asset Management in a research note on Friday, July 14th. Royal Bank Of Canada raised their price target on Brookfield Asset Management from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, May 12th. TD Securities raised their price target on Brookfield Asset Management from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Scotiabank raised their price target on Brookfield Asset Management from $41.75 to $42.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. Finally, Citigroup Inc. raised their price target on Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price 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.

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

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