Sarasin & Partners LLP maintained its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 18,000 shares of the financial services provider’s stock at the end of the second quarter. Sarasin & Partners LLP’s holdings in Brookfield Asset Management were worth $706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parkside Investments LLC boosted its position in shares of Brookfield Asset Management by 3.7% in the second quarter. Parkside Investments LLC now owns 118,777 shares of the financial services provider’s stock worth $4,657,000 after buying an additional 4,260 shares during the last quarter. Blue Fin Capital Inc. purchased a new position in shares of Brookfield Asset Management during the second quarter worth approximately $293,000. Canada Pension Plan Investment Board boosted its position in shares of Brookfield Asset Management by 212.0% in the second quarter. Canada Pension Plan Investment Board now owns 2,758,937 shares of the financial services provider’s stock worth $108,110,000 after buying an additional 1,874,577 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of 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. Finally, IFP Advisors Inc boosted its position in shares of Brookfield Asset Management by 337.1% in the second quarter. IFP Advisors Inc now owns 9,165 shares of the financial services provider’s stock worth $359,000 after buying an additional 7,068 shares during the last quarter. Institutional investors own 53.96% of the company’s stock.

Brookfield Asset Management Inc (NYSE:BAM) opened at 38.82 on Wednesday. The company’s 50-day moving average price is $39.05 and its 200 day moving average price is $37.50. The company has a market capitalization of $43.67 billion, a price-to-earnings ratio of 36.31 and a beta of 1.03. Brookfield Asset Management Inc has a 12 month low of $32.04 and a 12 month high of $40.09.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.28. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 58.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. Analysts forecast that Brookfield Asset Management Inc will post $0.99 EPS for the current fiscal year.

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

Brookfield Asset Management announced that its board has authorized a stock repurchase program on Friday, May 19th that allows the company to repurchase 82,960,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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A number of research analysts have recently commented on the company. Citigroup Inc. increased their price target on Brookfield Asset Management from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday. Canaccord Genuity reiterated a “buy” rating and issued a $42.00 price target on shares of Brookfield Asset Management in a research note on Friday, August 11th. TD Securities raised their target price on Brookfield Asset Management from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Royal Bank Of Canada raised their target price on Brookfield Asset Management from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, August 11th. Finally, Scotiabank raised their target price on Brookfield Asset Management from $41.75 to $42.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $43.56.

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.

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

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