TD Asset Management Inc. boosted its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 0.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,890,421 shares of the financial services provider’s stock after buying an additional 8,267 shares during the period. Brookfield Asset Management accounts for 1.4% of TD Asset Management Inc.’s investment portfolio, making the stock its 11th largest position. TD Asset Management Inc. owned 1.90% of Brookfield Asset Management worth $905,671,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FIL Ltd increased its holdings in Brookfield Asset Management by 7.8% during the 1st quarter. FIL Ltd now owns 20,918,094 shares of the financial services provider’s stock worth $974,566,000 after purchasing an additional 1,518,467 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Brookfield Asset Management by 16.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 13,809,349 shares of the financial services provider’s stock worth $644,206,000 after purchasing an additional 1,932,199 shares during the period. CIBC Asset Management Inc increased its holdings in Brookfield Asset Management by 3.4% during the 1st quarter. CIBC Asset Management Inc now owns 12,279,020 shares of the financial services provider’s stock worth $572,070,000 after purchasing an additional 398,105 shares during the period. Mawer Investment Management Ltd. increased its holdings in Brookfield Asset Management by 1.1% during the 1st quarter. Mawer Investment Management Ltd. now owns 9,407,843 shares of the financial services provider’s stock worth $438,446,000 after purchasing an additional 105,910 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in Brookfield Asset Management by 7.5% during the 1st quarter. Neuberger Berman Group LLC now owns 9,299,993 shares of the financial services provider’s stock worth $433,844,000 after purchasing an additional 650,319 shares during the period. 60.88% of the stock is currently owned by institutional investors.

BAM has been the topic of several recent research reports. Citigroup upped their price target on Brookfield Asset Management from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Royal Bank of Canada upped their price target on Brookfield Asset Management from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Monday. TD Securities upped their price target on Brookfield Asset Management from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Friday. Finally, BMO Capital Markets upped their price objective on Brookfield Asset Management from $55.00 to $59.00 and gave the stock an “outperform” rating in a research report on Friday. Six investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $56.50.

Shares of NYSE:BAM traded up $0.47 on Tuesday, hitting $51.00. 380,278 shares of the company’s stock were exchanged, compared to its average volume of 1,443,146. The stock’s 50-day moving average is $48.82. The stock has a market capitalization of $50.65 billion, a P/E ratio of 17.42 and a beta of 1.12. Brookfield Asset Management Inc has a 1-year low of $36.58 and a 1-year high of $51.16. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.25. The business had revenue of $16.92 billion during the quarter, compared to analysts’ expectations of $14.30 billion. Brookfield Asset Management had a return on equity of 3.38% and a net margin of 4.86%. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.25%.

In related news, Director Brookfield Asset Management In sold 1,900,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $23.75, for a total value of $45,125,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Brookfield Asset Management Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

Further Reading: Diversification in Your Portfolio

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

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