Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. cut its holdings in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 4.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,571 shares of the financial services provider’s stock after selling 900 shares during the period. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P.’s holdings in Brookfield Asset Management were worth $767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Group One Trading L.P. acquired a new stake in shares of Brookfield Asset Management in the first quarter valued at approximately $186,000. Visionary Asset Management Inc. acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at approximately $201,000. HM Payson & Co. acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at approximately $203,000. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Brookfield Asset Management by 112.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,176 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 2,738 shares during the last quarter. Finally, Checchi Capital Advisers LLC acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at approximately $208,000. Institutional investors own 53.81% of the company’s stock.

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Brookfield Asset Management Inc (BAM) traded up 0.03% during trading on Thursday, hitting $39.23. 147,621 shares of the company traded hands. Brookfield Asset Management Inc has a 12-month low of $32.04 and a 12-month high of $40.09. The firm has a market capitalization of $37.61 billion, a P/E ratio of 30.43 and a beta of 1.03. The stock has a 50-day moving average price of $38.99 and a 200-day moving average price of $37.93.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.28). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $5.27 billion. Brookfield Asset Management had a net margin of 4.87% and a return on equity of 2.10%. The company’s quarterly revenue was up 58.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 earnings per share. Equities analysts expect that Brookfield Asset Management Inc will post $1.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, August 29th. Brookfield Asset Management’s payout ratio is currently 43.75%.

Brookfield Asset Management announced that its board has approved a share repurchase plan on Friday, May 19th that authorizes the company to repurchase 82,960,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

BAM has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $42.00 price objective on shares of Brookfield Asset Management in a report on Thursday, July 27th. Citigroup Inc. lifted their price objective on shares of Brookfield Asset Management from $45.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. ValuEngine downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $42.00 price objective on shares of Brookfield Asset Management in a report on Friday, August 11th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $43.56.

About Brookfield Asset Management

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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