Today: The 349,889 Shares of Brookfield Asset Management Inc. (BAM) are sold by Beck Mack & Oliver LLC

The 349,889 Shares of Brookfield Asset Management Inc. (BAM) are sold by Beck Mack & Oliver LLC

Beck Mack & Oliver LLC decreased its stake in shares of Brookfield Asset Management Inc. (NYSE:BAM) by 19.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,464,179 shares of the company’s stock after selling 349,889 shares during the period. Brookfield Asset Management comprises about 1.7% of Beck Mack & Oliver LLC’s investment portfolio, making the stock its 24th largest position. Beck Mack & Oliver LLC’s holdings in Brookfield Asset Management were worth $48,420,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Steinberg Global Asset Management raised its stake in shares of Brookfield Asset Management by 2.1% in the first quarter. Steinberg Global Asset Management now owns 33,700 shares of the company’s stock valued at $1,172,000 after buying an additional 700 shares during the last quarter. Shell Asset Management Co. raised its stake in shares of Brookfield Asset Management by 0.7% in the second quarter. Shell Asset Management Co. now owns 101,890 shares of the company’s stock valued at $4,355,000 after buying an additional 700 shares during the last quarter. Creative Planning raised its stake in shares of Brookfield Asset Management by 16.3% in the second quarter. Creative Planning now owns 13,636 shares of the company’s stock valued at $451,000 after buying an additional 1,911 shares during the last quarter. TIAA CREF Trust Co. FSB MO raised its stake in shares of Brookfield Asset Management by 15.3% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 17,711 shares of the company’s stock valued at $586,000 after buying an additional 2,351 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. raised its stake in shares of Brookfield Asset Management by 2.6% in the first quarter. Bank of Nova Scotia Trust Co. now owns 93,810 shares of the company’s stock valued at $3,263,000 after buying an additional 2,369 shares during the last quarter. Institutional investors and hedge funds own 53.30% of the company’s stock.

Brookfield Asset Management Inc. (NYSE:BAM) traded down 0.28% during midday trading on Monday, reaching $35.47. 258,337 shares of the company were exchanged. The firm has a market capitalization of $34.02 billion, a PE ratio of 27.43 and a beta of 0.96. Brookfield Asset Management Inc. has a 52 week low of $25.72 and a 52 week high of $36.13. The company has a 50-day moving average of $34.42 and a 200 day moving average of $34.04.

Brookfield Asset Management (NYSE:BAM) last announced its quarterly earnings data on Friday, August 12th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.39. Brookfield Asset Management had a net margin of 6.47% and a return on equity of 2.54%. The business earned $5.97 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the firm posted $0.65 EPS. The company’s revenue was up 21.3% on a year-over-year basis. Equities analysts predict that Brookfield Asset Management Inc. will post $0.93 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Monday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 39.39%.

Several brokerages have issued reports on BAM. Canaccord Genuity reiterated a “buy” rating and set a $38.00 target price on shares of Brookfield Asset Management in a research report on Friday, August 12th. Zacks Investment Research lowered shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Credit Suisse Group AG set a $36.00 price objective on shares of Brookfield Asset Management and gave the stock a “hold” rating in a report on Thursday, October 6th. TD Securities restated a “buy” rating and issued a $46.00 price objective (up from $44.00) on shares of Brookfield Asset Management in a report on Tuesday, August 16th. Finally, Royal Bank Of Canada upgraded shares of Brookfield Asset Management from an “outperform” rating to a “top pick” rating and set a $41.00 price objective for the company in a report on Thursday, September 22nd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. Brookfield Asset Management currently has a consensus rating of “Buy” and an average target price of $40.14.

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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