Rothschild Asset Management Inc. Purchases 2,709 Shares of Brookfield Asset Management Inc (BAM)

Rothschild Asset Management Inc. boosted its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 10.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,245 shares of the financial services provider’s stock after buying an additional 2,709 shares during the period. Rothschild Asset Management Inc.’s holdings in Brookfield Asset Management were worth $1,437,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC raised its position in 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 buying an additional 45 shares during the period. Prospera Financial Services Inc raised its position in Brookfield Asset Management by 1.9% in the second quarter. Prospera Financial Services Inc now owns 9,931 shares of the financial services provider’s stock worth $389,000 after buying an additional 181 shares during the period. Fisher Asset Management LLC raised its position in Brookfield Asset Management by 4.7% in the second quarter. Fisher Asset Management LLC now owns 6,163 shares of the financial services provider’s stock worth $242,000 after buying an additional 277 shares during the period. Allen Investment Management LLC raised its position in Brookfield Asset Management by 2.2% in the first quarter. Allen Investment Management LLC now owns 14,868 shares of the financial services provider’s stock worth $542,000 after buying an additional 321 shares during the period. Finally, Levin Capital Strategies L.P. raised its position in Brookfield Asset Management by 1.6% in the first quarter. Levin Capital Strategies L.P. now owns 21,000 shares of the financial services provider’s stock worth $766,000 after buying an additional 330 shares during the period. Institutional investors own 53.95% of the company’s stock.

Brookfield Asset Management Inc (BAM) opened at 38.99 on Thursday. Brookfield Asset Management Inc has a one year low of $32.04 and a one year high of $40.09. The stock’s 50 day moving average is $39.06 and its 200 day moving average is $37.38. The stock has a market capitalization of $37.37 billion, a price-to-earnings ratio of 31.27 and a beta of 1.03.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Thursday, May 11th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.26. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.02 billion. Brookfield Asset Management had a net margin of 5.39% and a return on equity of 2.12%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 earnings per share. On average, equities analysts forecast that Brookfield Asset Management Inc will post $1.32 EPS for the current year.

Brookfield Asset Management announced that its Board of Directors has initiated a stock buyback plan on Friday, May 19th that permits the company to buyback 82,960,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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A number of research analysts have issued reports on the stock. Scotiabank upped their target price on shares of Brookfield Asset Management from $41.75 to $42.50 and gave the company an “outperform” rating in a report on Wednesday. TD Securities restated a “buy” rating on shares of Brookfield Asset Management in a report on Saturday, May 13th. BidaskClub upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Royal Bank Of Canada restated a “buy” rating and issued a $42.00 target price on shares of Brookfield Asset Management in a report on Tuesday, June 20th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $45.00 target price on shares of Brookfield Asset Management in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $41.69.

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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