Sterling Capital Management LLC boosted its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 35.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,383 shares of the financial services provider’s stock after buying an additional 3,219 shares during the quarter. Sterling Capital Management LLC’s holdings in Brookfield Asset Management were worth $511,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BAM. M&T Bank Corp boosted its stake in Brookfield Asset Management by 0.4% in the second quarter. M&T Bank Corp now owns 8,325 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 35 shares in the last quarter. Lipe & Dalton boosted its stake in Brookfield Asset Management by 0.5% in the second quarter. Lipe & Dalton now owns 98,680 shares of the financial services provider’s stock worth $3,869,000 after purchasing an additional 443 shares in the last quarter. HighTower Advisors LLC boosted its stake in Brookfield Asset Management by 1.7% in the second quarter. HighTower Advisors LLC now owns 28,399 shares of the financial services provider’s stock worth $1,113,000 after purchasing an additional 480 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Brookfield Asset Management by 4.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,536 shares of the financial services provider’s stock worth $492,000 after purchasing an additional 536 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Brookfield Asset Management by 11.1% in the second quarter. Voya Investment Management LLC now owns 10,274 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 1,028 shares in the last quarter. 54.44% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Inc (BAM) opened at $42.90 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 1.29. Brookfield Asset Management Inc has a one year low of $32.65 and a one year high of $44.33. The stock has a market capitalization of $41,406.67, a price-to-earnings ratio of 95.91 and a beta of 1.04.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Wednesday, November 29th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.14. Brookfield Asset Management’s dividend payout ratio is 124.45%.

A number of equities analysts have commented on the company. Citigroup reduced their price objective on Brookfield Asset Management from $50.00 to $49.50 and set a “buy” rating on the stock in a research note on Friday, November 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $47.00 price target on shares of Brookfield Asset Management in a research note on Monday, October 2nd. Scotiabank upped their price target on Brookfield Asset Management from $44.75 to $45.50 and gave the company an “outperform” rating in a research note on Friday, November 10th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Brookfield Asset Management in a research note on Thursday, September 28th. Finally, TheStreet lowered Brookfield Asset Management from a “b” rating to a “c+” rating in a research note on Thursday, November 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $47.00.

COPYRIGHT VIOLATION WARNING: This story was originally posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this story on another site, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this story can be viewed at https://theolympiareport.com/2017/12/22/brookfield-asset-management-inc-bam-position-increased-by-sterling-capital-management-llc.html.

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)

Receive News & Ratings for Brookfield Asset Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management and related companies with MarketBeat.com's FREE daily email newsletter.