Third Avenue Management LLC trimmed its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,291,808 shares of the financial services provider’s stock after selling 3,205 shares during the quarter. Brookfield Asset Management comprises 7.5% of Third Avenue Management LLC’s holdings, making the stock its 2nd biggest position. Third Avenue Management LLC owned about 0.38% of Brookfield Asset Management worth $168,282,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. QS Investors LLC raised its position in shares of Brookfield Asset Management by 69.8% during the 2nd quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock worth $110,000 after buying an additional 1,150 shares in the last quarter. Visionary Asset Management Inc. bought a new stake in shares of Brookfield Asset Management during the 2nd quarter worth about $201,000. HM Payson & Co. bought a new stake in shares of Brookfield Asset Management during the 2nd quarter worth about $203,000. Bronfman E.L. Rothschild L.P. raised its position in shares of Brookfield Asset Management by 112.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,176 shares of the financial services provider’s stock worth $203,000 after buying an additional 2,738 shares in the last quarter. Finally, Checchi Capital Advisers LLC bought a new stake in shares of Brookfield Asset Management during the 2nd quarter worth about $208,000. Institutional investors own 53.73% of the company’s stock.

A number of analysts have commented on BAM shares. BidaskClub upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Royal Bank Of Canada restated a “buy” rating and set a $42.00 price target on shares of Brookfield Asset Management in a research report on Tuesday, June 20th. ValuEngine downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $45.00 price target on shares of Brookfield Asset Management in a research report on Friday, July 14th. Finally, Citigroup Inc. boosted their price target on shares of Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $43.79.

COPYRIGHT VIOLATION WARNING: This news story was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of international copyright laws. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/09/30/third-avenue-management-llc-reduces-holdings-in-brookfield-asset-management-inc-bam.html.

Shares of Brookfield Asset Management Inc (NYSE:BAM) traded up 1.45% during trading on Friday, hitting $41.30. 938,546 shares of the stock traded hands. Brookfield Asset Management Inc has a 1-year low of $32.04 and a 1-year high of $41.56. The company has a 50 day moving average of $39.10 and a 200-day moving average of $38.06. The company has a market cap of $39.60 billion, a PE ratio of 32.04 and a beta of 1.03.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.28). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $5.27 billion. Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The firm’s quarterly revenue was up 58.1% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS. On average, equities analysts anticipate that Brookfield Asset Management Inc will post $1.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, August 31st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.36%. Brookfield Asset Management’s payout ratio is presently 43.75%.

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.

Want to see what other hedge funds are holding BAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A).

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

Receive News & Stock Ratings for Brookfield Asset Management Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management Inc and related stocks with our FREE daily email newsletter.