HighTower Advisors LLC Has $1.11 Million Position in Brookfield Asset Management Inc (BAM)

HighTower Advisors LLC increased its holdings in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,399 shares of the financial services provider’s stock after purchasing an additional 480 shares during the quarter. HighTower Advisors LLC’s holdings in Brookfield Asset Management were worth $1,113,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Brookfield Asset Management by 163.8% in the second quarter. JPMorgan Chase & Co. now owns 1,178,446 shares of the financial services provider’s stock worth $46,209,000 after purchasing an additional 731,752 shares during the last quarter. Barometer Capital Management Inc. grew its stake in shares of Brookfield Asset Management by 2,063.5% in the second quarter. Barometer Capital Management Inc. now owns 506,258 shares of the financial services provider’s stock worth $19,850,000 after purchasing an additional 482,858 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Brookfield Asset Management by 3.2% in the first quarter. Ameriprise Financial Inc. now owns 22,198 shares of the financial services provider’s stock worth $810,000 after purchasing an additional 689 shares during the last quarter. Signaturefd LLC grew its stake in shares of Brookfield Asset Management by 0.5% in the first quarter. Signaturefd LLC now owns 9,975 shares of the financial services provider’s stock worth $364,000 after purchasing an additional 45 shares during the last quarter. Finally, D L Carlson Investment Group Inc. bought a new stake in shares of Brookfield Asset Management in the second quarter worth $1,559,000. 53.73% of the stock is currently owned by institutional investors.

Several analysts recently weighed in on BAM shares. BidaskClub raised shares of 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 price objective on shares of Brookfield Asset Management in a research note on Tuesday, June 20th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $45.00 price objective on shares of Brookfield Asset Management in a research note on Friday, July 14th. Citigroup Inc. boosted their price objective on shares of Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Finally, ValuEngine cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Brookfield Asset Management has a consensus rating of “Buy” and a consensus target price of $48.17.

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Brookfield Asset Management Inc (NYSE:BAM) opened at 42.55 on Thursday. The stock’s 50 day moving average is $40.27 and its 200 day moving average is $38.65. Brookfield Asset Management Inc has a one year low of $32.04 and a one year high of $42.62. The firm has a market cap of $40.79 billion, a price-to-earnings ratio of 33.01 and a beta of 1.04.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Thursday, August 10th. The financial services provider reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.28). Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $5.27 billion. During the same period in the prior year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 58.1% on a year-over-year basis. On average, analysts predict that Brookfield Asset Management Inc will post $0.86 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors 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 1.32%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 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.

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

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