Bessemer Group Inc. boosted its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,830 shares of the financial services provider’s stock after buying an additional 96 shares during the period. Bessemer Group Inc.’s holdings in Brookfield Asset Management were worth $2,934,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Partners Value Investments LP bought a new stake in Brookfield Asset Management during the first quarter worth about $222,335,000. CIBC Asset Management Inc increased its stake in Brookfield Asset Management by 58.7% in the second quarter. CIBC Asset Management Inc now owns 9,445,056 shares of the financial services provider’s stock worth $370,221,000 after buying an additional 3,491,780 shares in the last quarter. Cooke & Bieler LP bought a new stake in Brookfield Asset Management during the first quarter worth about $76,545,000. OMERS ADMINISTRATION Corp increased its stake in Brookfield Asset Management by 47.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 5,435,723 shares of the financial services provider’s stock worth $198,186,000 after buying an additional 1,738,408 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Brookfield Asset Management by 306.2% in the second quarter. Russell Investments Group Ltd. now owns 2,220,656 shares of the financial services provider’s stock worth $86,913,000 after buying an additional 1,673,944 shares in the last quarter. 53.95% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Inc (NYSE:BAM) opened at 38.72 on Wednesday. The company has a market cap of $37.12 billion, a PE ratio of 31.05 and a beta of 1.03. The company’s 50-day moving average price is $39.02 and its 200-day moving average price is $37.25. 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 announced its quarterly earnings results on Thursday, May 11th. The financial services provider reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.26. Brookfield Asset Management had a net margin of 5.39% and a return on equity of 2.12%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities analysts anticipate that Brookfield Asset Management Inc will post $1.32 earnings per share for the current year.

Brookfield Asset Management declared that its Board of Directors has approved a stock buyback plan on Friday, May 19th that permits the company to repurchase 82,960,000 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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A number of analysts recently issued reports on the company. TD Securities reaffirmed a “buy” rating on shares of Brookfield Asset Management in a research report on Saturday, May 13th. BidaskClub raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $42.00 target price on shares of Brookfield Asset Management in a research report on Tuesday, June 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $45.00 target price on shares of Brookfield Asset Management in a research report on Friday, July 14th. Finally, ValuEngine downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Brookfield Asset Management has a consensus rating of “Buy” and a consensus target price of $41.57.

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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