Jones Collombin Investment Counsel Inc lowered its position in shares of Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A) by 8.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 493,324 shares of the company’s stock after selling 43,735 shares during the period. Brookfield Asset Management accounts for 5.5% of Jones Collombin Investment Counsel Inc’s holdings, making the stock its 2nd largest position. Jones Collombin Investment Counsel Inc owned about 0.05% of Brookfield Asset Management worth $17,336,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Bank of Montreal Can purchased a new position in shares of Brookfield Asset Management during the second quarter worth $1,134,262,000. Mackenzie Financial Corp boosted its position in shares of Brookfield Asset Management by 85,158.3% in the second quarter. Mackenzie Financial Corp now owns 11,759,684 shares of the company’s stock worth $388,893,000 after buying an additional 11,745,891 shares in the last quarter. CIBC World Markets Inc. boosted its position in shares of Brookfield Asset Management by 25.7% in the second quarter. CIBC World Markets Inc. now owns 14,974,038 shares of the company’s stock worth $495,191,000 after buying an additional 3,065,448 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Brookfield Asset Management by 12.1% in the second quarter. Vanguard Group Inc. now owns 16,644,423 shares of the company’s stock worth $550,431,000 after buying an additional 1,800,655 shares in the last quarter. Finally, CI Investments Inc. boosted its position in shares of Brookfield Asset Management by 198.4% in the second quarter. CI Investments Inc. now owns 2,685,564 shares of the company’s stock worth $88,812,000 after buying an additional 1,785,564 shares in the last quarter. Hedge funds and other institutional investors own 53.40% of the company’s stock.

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

Brookfield Asset Management Inc. (NYSE:BAM) traded down 0.86% during midday trading on Wednesday, hitting $33.34. The company had a trading volume of 314,551 shares. Brookfield Asset Management Inc. has a 52 week low of $25.72 and a 52 week high of $36.25. The company has a market capitalization of $31.98 billion, a P/E ratio of 16.11 and a beta of 1.05. The stock has a 50 day moving average price of $34.63 and a 200 day moving average price of $34.34.

Brookfield Asset Management (NYSE:BAM) last posted its quarterly earnings data on Friday, November 11th. The company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.65. The firm earned $6.29 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Brookfield Asset Management had a return on equity of 3.66% and a net margin of 9.37%. The business’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. Equities analysts forecast that Brookfield Asset Management Inc. will post $0.55 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 31st. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.13 per share. The ex-dividend date is Monday, November 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.55%. Brookfield Asset Management’s dividend payout ratio is currently 24.88%.

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A number of equities analysts have commented on the company. RBC Capital Markets raised Brookfield Asset Management from an “outperform” rating to a “top pick” rating and set a $41.00 price target on the stock in a research note on Wednesday, September 21st. They noted that the move was a valuation call. TD Securities reaffirmed a “buy” rating and issued a $46.00 price target on shares of Brookfield Asset Management in a research note on Sunday, October 2nd. TheStreet cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Monday, September 19th. Royal Bank Of Canada decreased their price target on Brookfield Asset Management from $41.00 to $40.00 and set a “top pick” rating on the stock in a research note on Monday, November 14th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 price target on shares of Brookfield Asset Management in a research note on Friday, August 12th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Brookfield Asset Management currently has a consensus 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.

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