LifePlan Financial Group Inc boosted its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 50.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,537 shares of the financial services provider’s stock after purchasing an additional 512 shares during the period. LifePlan Financial Group Inc’s holdings in Brookfield Asset Management were worth $51,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in Brookfield Asset Management by 9.4% during the 1st quarter. Principal Financial Group Inc. now owns 24,034,909 shares of the financial services provider’s stock valued at $1,063,542,000 after purchasing an additional 2,070,998 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Brookfield Asset Management by 44.8% during the 2nd quarter. CIBC Asset Management Inc now owns 20,737,527 shares of the financial services provider’s stock valued at $680,368,000 after purchasing an additional 6,413,214 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Brookfield Asset Management by 21.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 16,308,441 shares of the financial services provider’s stock worth $721,648,000 after acquiring an additional 2,832,524 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Brookfield Asset Management by 5.6% in the 1st quarter. 1832 Asset Management L.P. now owns 15,638,580 shares of the financial services provider’s stock worth $694,693,000 after acquiring an additional 829,238 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in Brookfield Asset Management by 26.2% in the 1st quarter. Mackenzie Financial Corp now owns 10,868,207 shares of the financial services provider’s stock worth $669,326,000 after acquiring an additional 2,255,110 shares in the last quarter. 39.77% of the stock is owned by institutional investors and hedge funds.

NYSE:BAM traded down $1.21 during midday trading on Friday, reaching $32.33. 3,901,419 shares of the stock traded hands, compared to its average volume of 1,389,558. Brookfield Asset Management Inc has a 12-month low of $21.57 and a 12-month high of $45.61. The business has a 50-day moving average of $33.57 and a two-hundred day moving average of $43.13. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.84 and a current ratio of 1.04. The stock has a market capitalization of $50.88 billion, a PE ratio of 28.36 and a beta of 1.14.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Thursday, May 14th. The financial services provider reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.68). Brookfield Asset Management had a net margin of 2.74% and a return on equity of 1.79%. The firm had revenue of $16.59 billion for the quarter.

A number of brokerages have commented on BAM. Royal Bank of Canada dropped their target price on shares of Brookfield Asset Management from $50.00 to $39.00 and set an “outperform” rating on the stock in a research note on Friday, April 3rd. TheStreet downgraded shares of Brookfield Asset Management from a “b-” rating to a “c” rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. began coverage on shares of Brookfield Asset Management in a research note on Monday, June 8th. They issued an “overweight” rating on the stock. ValuEngine downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Finally, Zacks Investment Research cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Thursday, May 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Brookfield Asset Management has a consensus rating of “Hold” and a consensus target price of $41.35.

Brookfield Asset Management Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

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

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