Wittenberg Investment Management Inc. lessened its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 46.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,300 shares of the financial services provider’s stock after selling 5,500 shares during the period. Wittenberg Investment Management Inc.’s holdings in Brookfield Asset Management were worth $247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barometer Capital Management Inc. lifted its stake in shares of Brookfield Asset Management by 2,063.5% in the second quarter. Barometer Capital Management Inc. now owns 506,258 shares of the financial services provider’s stock worth $19,850,000 after buying an additional 482,858 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its stake in shares of 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. Ameriprise Financial Inc. lifted its stake in shares of Brookfield Asset Management by 3.2% in the first quarter. Ameriprise Financial Inc. now owns 22,198 shares of the financial services provider’s stock worth $810,000 after buying an additional 689 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Brookfield Asset Management by 0.5% in the first quarter. Signaturefd LLC now owns 9,975 shares of the financial services provider’s stock worth $364,000 after buying an additional 45 shares in the last quarter. Finally, AXA lifted its stake in shares of Brookfield Asset Management by 4.8% in the first quarter. AXA now owns 705,310 shares of the financial services provider’s stock worth $25,715,000 after buying an additional 32,232 shares in the last quarter. Hedge funds and other institutional investors own 53.81% of the company’s stock.

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

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Shares of Brookfield Asset Management Inc (NYSE:BAM) traded up 0.61% during mid-day trading on Friday, reaching $39.44. 606,121 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $39.02 and its 200-day moving average price is $37.97. The company has a market capitalization of $37.81 billion, a PE ratio of 30.60 and a beta of 1.03. Brookfield Asset Management Inc has a one year low of $32.04 and a one year high of $40.09.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its 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 analyst estimates of $5.27 billion. Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The firm’s revenue for the quarter was up 58.1% on a year-over-year basis. During the same quarter last year, the business earned $0.15 earnings per share. On average, equities analysts expect that Brookfield Asset Management Inc will post $1.18 earnings per share for the current year.

Brookfield Asset Management declared that its board has initiated a share repurchase program on Friday, May 19th that allows the company to buyback 82,960,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 43.75%.

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.

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

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