Intact Investment Management Inc. decreased its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,526,391 shares of the financial services provider’s stock after selling 74,700 shares during the period. Brookfield Asset Management makes up 3.4% of Intact Investment Management Inc.’s investment portfolio, making the stock its 6th largest holding. Intact Investment Management Inc. owned approximately 0.16% of Brookfield Asset Management worth $78,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. QS Investors LLC boosted its stake in shares of Brookfield Asset Management by 69.8% during the 2nd quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 1,150 shares in the last quarter. Atlantic Trust LLC bought a new stake in shares of Brookfield Asset Management during the 2nd quarter valued at about $191,000. Cortland Associates Inc. MO bought a new stake in shares of Brookfield Asset Management during the 3rd quarter valued at about $209,000. Visionary Asset Management Inc. bought a new stake in shares of Brookfield Asset Management during the 2nd quarter valued at about $201,000. Finally, HM Payson & Co. bought a new stake in shares of Brookfield Asset Management during the 2nd quarter valued at about $203,000. 52.28% of the stock is currently owned by hedge funds and other institutional investors.

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Brookfield Asset Management Inc (NYSE:BAM) traded up 0.307% during midday trading on Tuesday, reaching $42.149. 195,078 shares of the company traded hands. Brookfield Asset Management Inc has a one year low of $32.04 and a one year high of $43.15. The company has a 50 day moving average price of $41.40 and a 200-day moving average price of $39.20. The stock has a market capitalization of $40.41 billion, a P/E ratio of 32.699 and a beta of 1.04.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Thursday, August 10th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.28). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $5.27 billion. Brookfield Asset Management had a net margin of 4.87% and a return on equity of 2.10%. The company’s revenue for the quarter was up 58.1% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. Analysts forecast that Brookfield Asset Management Inc will post $0.84 EPS for the current fiscal year.

BAM has been the topic of several research reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $45.00 price objective on shares of Brookfield Asset Management in a research note on Friday, July 14th. TD Securities boosted their price objective on shares of 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 boosted their price objective on shares of Brookfield Asset Management from $41.75 to $42.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. Royal Bank Of Canada boosted their price objective on shares of Brookfield Asset Management from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, August 11th. Finally, Citigroup Inc. boosted their price objective on shares of Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target 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.

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

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