Private Management Group Inc. trimmed its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 591,111 shares of the financial services provider’s stock after selling 2,138 shares during the quarter. Private Management Group Inc.’s holdings in Brookfield Asset Management were worth $23,964,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Brookfield Asset Management by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 45,246 shares of the financial services provider’s stock worth $1,765,000 after purchasing an additional 1,296 shares during the period. Compagnie Lombard Odier SCmA lifted its holdings in shares of Brookfield Asset Management by 0.4% during the first quarter. Compagnie Lombard Odier SCmA now owns 389,000 shares of the financial services provider’s stock worth $15,153,000 after buying an additional 1,400 shares in the last quarter. Greystone Investment Management LLC lifted its holdings in shares of Brookfield Asset Management by 0.5% during the second quarter. Greystone Investment Management LLC now owns 335,006 shares of the financial services provider’s stock worth $13,400,000 after buying an additional 1,615 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Brookfield Asset Management by 5.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 30,245 shares of the financial services provider’s stock worth $1,179,000 after buying an additional 1,651 shares in the last quarter. Finally, Comerica Bank lifted its holdings in shares of Brookfield Asset Management by 3.3% during the second quarter. Comerica Bank now owns 56,379 shares of the financial services provider’s stock worth $2,366,000 after buying an additional 1,783 shares in the last quarter. 60.39% of the stock is owned by hedge funds and other institutional investors.

BAM opened at $42.59 on Tuesday. Brookfield Asset Management Inc has a fifty-two week low of $37.22 and a fifty-two week high of $44.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.26 and a quick ratio of 1.01. The firm has a market cap of $41.99 billion, a PE ratio of 15.79 and a beta of 1.05.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Thursday, August 9th. The financial services provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.58. Brookfield Asset Management had a return on equity of 3.74% and a net margin of 5.49%. The company had revenue of $13.28 billion during the quarter. During the same period in the prior year, the business posted $1.01 EPS. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, August 30th.

A number of equities research analysts have recently weighed in on the company. Scotiabank reissued a “buy” rating and set a $50.50 target price on shares of Brookfield Asset Management in a report on Tuesday, August 7th. Royal Bank of Canada lifted their target price on Brookfield Asset Management from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $49.80.

Brookfield Asset Management Company Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.

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

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