Hexavest Inc. raised its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 667,232 shares of the financial services provider’s stock after buying an additional 28,680 shares during the period. Hexavest Inc. owned approximately 0.07% of Brookfield Asset Management worth $24,240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Essex Financial Services Inc. increased its stake in Brookfield Asset Management by 1.2% in the fourth quarter. Essex Financial Services Inc. now owns 16,391 shares of the financial services provider’s stock valued at $541,000 after buying an additional 189 shares during the last quarter. Argentus Capital Management LLC increased its stake in Brookfield Asset Management by 5.3% in the third quarter. Argentus Capital Management LLC now owns 11,189 shares of the financial services provider’s stock valued at $394,000 after buying an additional 565 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in Brookfield Asset Management by 11.3% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 5,910 shares of the financial services provider’s stock valued at $195,000 after buying an additional 600 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in Brookfield Asset Management by 0.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 78,070 shares of the financial services provider’s stock valued at $2,577,000 after buying an additional 680 shares during the last quarter. Finally, Brown Advisory Securities LLC increased its stake in Brookfield Asset Management by 3.6% in the third quarter. Brown Advisory Securities LLC now owns 27,354 shares of the financial services provider’s stock valued at $962,000 after buying an additional 960 shares during the last quarter. 53.48% of the stock is currently owned by institutional investors.

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

Shares of Brookfield Asset Management Inc (NYSE:BAM) traded down 1.485% during mid-day trading on Friday, hitting $36.155. The stock had a trading volume of 639,644 shares. Brookfield Asset Management Inc has a 52-week low of $31.80 and a 52-week high of $37.52. The firm has a 50 day moving average price of $36.40 and a 200 day moving average price of $35.02. The firm has a market cap of $34.67 billion, a PE ratio of 23.326 and a beta of 0.95.

Brookfield Asset Management (NYSE:BAM) last announced its quarterly earnings results on Thursday, February 9th. The financial services provider reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.08. The firm had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Brookfield Asset Management had a return on equity of 2.63% and a net margin of 6.76%. Brookfield Asset Management’s revenue was up 25.2% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. Equities analysts predict that Brookfield Asset Management Inc will post $1.61 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Tuesday, February 28th were paid a dividend of $0.14 per share. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 24th. This represents a $0.56 annualized dividend and a dividend yield of 1.53%. Brookfield Asset Management’s payout ratio is 33.33%.

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BAM has been the topic of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $41.00 price target (up previously from $40.00) on shares of Brookfield Asset Management in a research note on Friday, February 10th. Canaccord Genuity reiterated a “buy” rating and set a $40.00 price target on shares of Brookfield Asset Management in a research note on Thursday, February 9th. Citigroup Inc initiated coverage on Brookfield Asset Management in a research note on Thursday, January 19th. They set a “buy” rating and a $39.00 price target on the stock. Finally, TheStreet upgraded Brookfield Asset Management from a “c+” rating to a “b” rating in a research note on Friday, February 17th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $40.44.

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.

5 Day Chart for NYSE:BAM

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