Third Avenue Management LLC reduced its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,977,742 shares of the financial services provider’s stock after selling 41,835 shares during the period. Brookfield Asset Management makes up about 10.0% of Third Avenue Management LLC’s investment portfolio, making the stock its largest position. Third Avenue Management LLC’s holdings in Brookfield Asset Management were worth $177,129,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BAM. Caisse DE Depot ET Placement DU Quebec grew its holdings in Brookfield Asset Management by 149.1% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,000,000 shares of the financial services provider’s stock worth $243,248,000 after acquiring an additional 3,591,058 shares during the period. Toronto Dominion Bank grew its holdings in Brookfield Asset Management by 49.6% during the second quarter. Toronto Dominion Bank now owns 10,739,583 shares of the financial services provider’s stock worth $434,794,000 after acquiring an additional 3,559,779 shares during the period. CI Investments Inc. grew its holdings in Brookfield Asset Management by 36.1% during the third quarter. CI Investments Inc. now owns 7,818,294 shares of the financial services provider’s stock worth $348,149,000 after acquiring an additional 2,073,678 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in Brookfield Asset Management by 182.7% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,974,800 shares of the financial services provider’s stock worth $158,646,000 after acquiring an additional 1,922,500 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Brookfield Asset Management by 233.9% during the third quarter. JPMorgan Chase & Co. now owns 1,273,404 shares of the financial services provider’s stock worth $56,703,000 after acquiring an additional 891,996 shares during the period. 60.72% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on the company. Credit Suisse Group raised Brookfield Asset Management from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $44.00 to $50.00 in a report on Friday, November 9th. TD Securities lifted their target price on Brookfield Asset Management from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, November 9th. Citigroup assumed coverage on Brookfield Asset Management in a report on Tuesday, November 13th. They set a “buy” rating and a $49.50 target price on the stock. Scotiabank reaffirmed a “buy” rating and set a $50.50 target price on shares of Brookfield Asset Management in a report on Tuesday, August 7th. Finally, Royal Bank of Canada lifted their target price on Brookfield Asset Management from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. Six research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $51.75.

Shares of BAM opened at $43.70 on Tuesday. The stock has a market capitalization of $43.58 billion, a P/E ratio of 16.94 and a beta of 1.03. Brookfield Asset Management Inc has a 1-year low of $37.22 and a 1-year high of $45.04. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.02 and a current ratio of 1.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, November 8th. The financial services provider reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.21). The company had revenue of $14.86 billion during the quarter. Brookfield Asset Management had a return on equity of 3.52% and a net margin of 5.10%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, November 30th will be paid a $0.15 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.37%.

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Brookfield Asset Management Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.

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

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