Brookfield Asset Management Inc (BAM) Stake Lowered by Alps Advisors Inc.

Alps Advisors Inc. lessened its holdings in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 69.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,459 shares of the financial services provider’s stock after selling 568,346 shares during the period. Alps Advisors Inc.’s holdings in Brookfield Asset Management were worth $10,303,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BAM. Ameriprise Financial Inc. boosted its position 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 during the period. Dimensional Fund Advisors LP boosted its position in shares of Brookfield Asset Management by 18.7% in the first quarter. Dimensional Fund Advisors LP now owns 15,924 shares of the financial services provider’s stock worth $581,000 after buying an additional 2,507 shares during the period. Fisher Asset Management LLC boosted its position in shares of 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 worth $242,000 after buying an additional 277 shares during the period. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Brookfield Asset Management in the second quarter worth $5,715,000. Finally, Marathon Asset Management LLP boosted its position in shares of Brookfield Asset Management by 9.4% in the second quarter. Marathon Asset Management LLP now owns 2,546,995 shares of the financial services provider’s stock worth $99,802,000 after buying an additional 218,741 shares during the period. 52.19% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on BAM shares. 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. Royal Bank Of Canada increased their price objective on Brookfield Asset Management from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday. TD Securities increased their price objective on Brookfield Asset Management from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Scotiabank increased their price objective on Brookfield Asset Management from $41.75 to $42.50 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Finally, Citigroup Inc. increased their price objective on Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, August 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $47.00.

Shares of Brookfield Asset Management Inc (NYSE:BAM) traded down $0.02 during trading hours on Friday, hitting $42.02. The company had a trading volume of 603,803 shares, compared to its average volume of 636,926. The company has a current ratio of 1.31, a quick ratio of 1.02 and a debt-to-equity ratio of 0.96. Brookfield Asset Management Inc has a twelve month low of $32.04 and a twelve month high of $43.15. The stock has a market capitalization of $41,564.71, a price-to-earnings ratio of 93.42 and a beta of 1.05.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, August 10th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.28). Brookfield Asset Management had a return on equity of 0.87% and a net margin of 1.70%. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $5.27 billion. During the same quarter in the prior year, the business posted $0.15 earnings per share. Brookfield Asset Management’s revenue was up 58.1% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.33%. Brookfield Asset Management’s dividend payout ratio is 124.45%.

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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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