Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) released its earnings results on Thursday. The financial services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by $0.28, MarketWatch Earnings reports. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $5.27 billion. Brookfield Asset Management had a net margin of 5.39% and a return on equity of 2.12%. The business’s revenue for the quarter was up 58.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 EPS.

Shares of Brookfield Asset Management (NYSE BAM) traded down 1.51% during mid-day trading on Thursday, hitting $38.40. 1,040,357 shares of the stock traded hands. The firm’s 50-day moving average is $39.06 and its 200-day moving average is $37.38. The stock has a market cap of $36.81 billion, a price-to-earnings ratio of 30.79 and a beta of 1.03. Brookfield Asset Management has a 52 week low of $32.04 and a 52 week high of $40.09.

BAM has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased their target price on shares of Brookfield Asset Management from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, May 12th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $45.00 target price on shares of Brookfield Asset Management in a research report on Friday, May 12th. TD Securities reissued a “buy” rating on shares of Brookfield Asset Management in a research report on Saturday, May 13th. ValuEngine downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $41.69.

Brookfield Asset Management announced that its Board of Directors has approved a stock repurchase program on Friday, May 19th that authorizes the company to buyback 82,960,000 shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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Institutional investors have recently bought and sold shares of the stock. Cidel Asset Management Inc. boosted its position in Brookfield Asset Management by 0.3% in the second quarter. Cidel Asset Management Inc. now owns 10,540 shares of the financial services provider’s stock valued at $413,000 after buying an additional 35 shares during the period. Signaturefd LLC boosted its position in Brookfield Asset Management by 0.5% in the first quarter. Signaturefd LLC now owns 9,975 shares of the financial services provider’s stock valued at $364,000 after buying an additional 45 shares during the period. Prospera Financial Services Inc boosted its position in Brookfield Asset Management by 1.9% in the second quarter. Prospera Financial Services Inc now owns 9,931 shares of the financial services provider’s stock valued at $389,000 after buying an additional 181 shares during the period. Fisher Asset Management LLC boosted its position in Brookfield Asset Management by 4.7% in the second quarter. Fisher Asset Management LLC now owns 6,163 shares of the financial services provider’s stock valued at $242,000 after buying an additional 277 shares during the period. Finally, Allen Investment Management LLC boosted its position in Brookfield Asset Management by 2.2% in the first quarter. Allen Investment Management LLC now owns 14,868 shares of the financial services provider’s stock valued at $542,000 after buying an additional 321 shares during the period. 53.95% of the stock is currently owned by hedge funds and other institutional investors.

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.

Earnings History for Brookfield Asset Management (NYSE:BAM)

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