Sentry Investments Corp. reduced its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,867,775 shares of the financial services provider’s stock after selling 141,550 shares during the period. Brookfield Asset Management comprises about 1.7% of Sentry Investments Corp.’s holdings, making the stock its 8th largest position. Sentry Investments Corp. owned 0.61% of Brookfield Asset Management worth $230,075,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. boosted its stake in Brookfield Asset Management by 0.7% in the first quarter. Principal Financial Group Inc. now owns 25,567,307 shares of the financial services provider’s stock valued at $932,179,000 after buying an additional 169,650 shares during the period. TD Asset Management Inc. boosted its stake in Brookfield Asset Management by 2.4% in the second quarter. TD Asset Management Inc. now owns 21,728,082 shares of the financial services provider’s stock valued at $851,423,000 after buying an additional 518,648 shares during the period. Vanguard Group Inc. boosted its stake in Brookfield Asset Management by 5.0% in the first quarter. Vanguard Group Inc. now owns 18,673,540 shares of the financial services provider’s stock valued at $680,837,000 after buying an additional 896,182 shares during the period. First Manhattan Co. boosted its stake in Brookfield Asset Management by 2.3% in the second quarter. First Manhattan Co. now owns 16,439,611 shares of the financial services provider’s stock valued at $644,597,000 after buying an additional 363,367 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Brookfield Asset Management by 4.0% in the first quarter. Mackenzie Financial Corp now owns 10,849,744 shares of the financial services provider’s stock valued at $395,582,000 after buying an additional 414,030 shares during the period. Hedge funds and other institutional investors own 53.81% of the company’s stock.

Shares of Brookfield Asset Management Inc (NYSE:BAM) traded down 0.08% during midday trading on Thursday, hitting $39.19. The company had a trading volume of 176,144 shares. The stock’s 50-day moving average price is $39.03 and its 200-day moving average price is $37.72. The stock has a market capitalization of $37.57 billion, a price-to-earnings ratio of 30.40 and a beta of 1.03. Brookfield Asset Management Inc has a one year low of $32.04 and a one year high of $40.09.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.28. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $5.27 billion. Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The business’s revenue for the quarter was up 58.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. Analysts predict that Brookfield Asset Management Inc will post $1.08 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, August 29th. Brookfield Asset Management’s dividend payout ratio is presently 43.75%.

Brookfield Asset Management announced that its board has authorized a stock repurchase program on Friday, May 19th that allows the company to repurchase 82,960,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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Several equities research analysts have recently commented on BAM shares. TD Securities lifted their target price on Brookfield Asset Management from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $45.00 target price on shares of Brookfield Asset Management in a research note on Friday, May 12th. BidaskClub raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Royal Bank Of Canada reissued a “buy” rating and issued a $42.00 target price on shares of Brookfield Asset Management in a research note on Tuesday, June 20th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $42.00 target price on shares of Brookfield Asset Management in a research note on Friday, August 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $43.56.

Brookfield Asset Management Company Profile

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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