Greystone Managed Investments Inc. trimmed its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 16.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,754,167 shares of the financial services provider’s stock after selling 349,095 shares during the period. Brookfield Asset Management comprises 3.2% of Greystone Managed Investments Inc.’s investment portfolio, making the stock its 10th biggest holding. Greystone Managed Investments Inc. owned approximately 0.18% of Brookfield Asset Management worth $72,262,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in BAM. FMR LLC raised its stake in shares of Brookfield Asset Management by 18.9% in the 2nd quarter. FMR LLC now owns 25,066,960 shares of the financial services provider’s stock valued at $983,697,000 after acquiring an additional 3,980,816 shares during the period. CIBC Asset Management Inc raised its stake in shares of Brookfield Asset Management by 58.7% in the 2nd quarter. CIBC Asset Management Inc now owns 9,445,056 shares of the financial services provider’s stock valued at $370,221,000 after acquiring an additional 3,491,780 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Brookfield Asset Management by 212.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,758,937 shares of the financial services provider’s stock valued at $108,110,000 after acquiring an additional 1,874,577 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Brookfield Asset Management by 306.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,220,656 shares of the financial services provider’s stock valued at $86,913,000 after acquiring an additional 1,673,944 shares during the period. Finally, Mcdonald Capital Investors Inc. CA purchased a new stake in shares of Brookfield Asset Management in the 2nd quarter valued at approximately $35,621,000. 52.16% of the stock is currently owned by institutional investors and hedge funds.

BAM has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $42.00 price target on shares of Brookfield Asset Management in a research note on Thursday, July 27th. BidaskClub downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Scotiabank boosted their price target on shares of Brookfield Asset Management from $41.75 to $42.50 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. TD Securities boosted their price target on shares of Brookfield Asset Management from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $42.00 price target on shares of Brookfield Asset Management in a research note on Friday, August 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Brookfield Asset Management has a consensus rating of “Buy” and a consensus target price of $47.00.

Shares of Brookfield Asset Management Inc (BAM) traded up $0.17 on Monday, reaching $41.41. 937,200 shares of the company traded hands, compared to its average volume of 877,030. Brookfield Asset Management Inc has a 1 year low of $32.41 and a 1 year high of $43.15. The stock has a market cap of $39,727.76, a P/E ratio of 92.02 and a beta of 1.05. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 1.29.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be paid a dividend of $0.18 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 1.74%. The ex-dividend date is Wednesday, November 29th. Brookfield Asset Management’s dividend payout ratio is presently 124.45%.

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Brookfield Asset Management 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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