Brookfield Asset Management Inc (NYSE:BAM) Stock Holdings Lifted by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. raised its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 458.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 265,500 shares of the financial services provider’s stock after buying an additional 218,000 shares during the period. Brookfield Asset Management makes up about 1.3% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Hillsdale Investment Management Inc.’s holdings in Brookfield Asset Management were worth $12,689,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of BAM. Lenox Wealth Management Inc. increased its holdings in shares of Brookfield Asset Management by 862.1% in the first quarter. Lenox Wealth Management Inc. now owns 558 shares of the financial services provider’s stock valued at $26,000 after buying an additional 500 shares in the last quarter. Zions Bancorporation N.A. bought a new position in shares of Brookfield Asset Management in the first quarter valued at $27,000. Carroll Financial Associates Inc. increased its holdings in shares of Brookfield Asset Management by 86.9% in the first quarter. Carroll Financial Associates Inc. now owns 912 shares of the financial services provider’s stock valued at $42,000 after buying an additional 424 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Brookfield Asset Management by 233.0% in the second quarter. AdvisorNet Financial Inc now owns 979 shares of the financial services provider’s stock valued at $47,000 after buying an additional 685 shares in the last quarter. Finally, Huntington National Bank acquired a new stake in Brookfield Asset Management during the 2nd quarter valued at $48,000. 60.88% of the stock is currently owned by institutional investors.

In other news, Director Brookfield Asset Management In sold 1,900,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $23.75, for a total value of $45,125,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

NYSE:BAM traded up $1.05 during trading hours on Friday, hitting $51.10. 1,228,500 shares of the stock traded hands, compared to its average volume of 1,570,945. The firm has a 50 day moving average price of $49.04 and a 200 day moving average price of $47.09. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 1.18. Brookfield Asset Management Inc has a fifty-two week low of $36.58 and a fifty-two week high of $51.16. The firm has a market cap of $50.88 billion, a price-to-earnings ratio of 17.05 and a beta of 1.12.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.25. Brookfield Asset Management had a net margin of 4.86% and a return on equity of 3.38%. The company had revenue of $16.92 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the previous year, the business earned $0.77 EPS. The company’s revenue was up 27.5% on a year-over-year basis.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, August 29th.

Several analysts have issued reports on the stock. BMO Capital Markets boosted their target price on shares of Brookfield Asset Management from $55.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. TD Securities boosted their target price on shares of Brookfield Asset Management from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada boosted their target price on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Citigroup boosted their target price on shares of Brookfield Asset Management from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Six research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $56.50.

About Brookfield Asset Management

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

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

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