Canada Pension Plan Investment Board Boosts Stake in Brookfield Asset Management Inc (BAM)

Canada Pension Plan Investment Board raised its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 212.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,758,937 shares of the financial services provider’s stock after buying an additional 1,874,577 shares during the period. Canada Pension Plan Investment Board owned approximately 0.29% of Brookfield Asset Management worth $108,110,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Creative Planning boosted its stake in shares of Brookfield Asset Management by 15.6% in the first quarter. Creative Planning now owns 48,050 shares of the financial services provider’s stock valued at $1,752,000 after buying an additional 6,474 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Brookfield Asset Management by 5.0% in the first quarter. Gulf International Bank UK Ltd now owns 276,477 shares of the financial services provider’s stock valued at $10,058,000 after buying an additional 13,200 shares in the last quarter. Capstone Asset Management Co. boosted its stake in shares of Brookfield Asset Management by 3.5% in the first quarter. Capstone Asset Management Co. now owns 93,383 shares of the financial services provider’s stock valued at $3,405,000 after buying an additional 3,180 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its stake in shares of Brookfield Asset Management by 4.3% in the first quarter. Beutel Goodman & Co Ltd. now owns 16,703,758 shares of the financial services provider’s stock valued at $607,530,000 after buying an additional 681,205 shares in the last quarter. Finally, Moon Capital Management LLC boosted its stake in shares of Brookfield Asset Management by 24.4% in the first quarter. Moon Capital Management LLC now owns 112,142 shares of the financial services provider’s stock valued at $4,089,000 after buying an additional 21,995 shares in the last quarter. 53.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of Brookfield Asset Management Inc (NYSE:BAM) opened at 38.99 on Thursday. The company has a 50-day moving average of $39.06 and a 200 day moving average of $37.38. Brookfield Asset Management Inc has a one year low of $32.04 and a one year high of $40.09. The firm has a market cap of $37.37 billion, a PE ratio of 31.27 and a beta of 1.03.

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

Brookfield Asset Management declared that its board has authorized a share buyback program on Friday, May 19th that authorizes the company to repurchase 82,960,000 shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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Several analysts have recently issued reports on BAM shares. Royal Bank Of Canada increased their price target on shares of Brookfield Asset Management from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, May 12th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $45.00 price target on shares of Brookfield Asset Management in a research report on Friday, May 12th. TD Securities reaffirmed a “buy” rating on shares of Brookfield Asset Management in a report on Saturday, May 13th. ValuEngine cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub raised shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Brookfield Asset Management currently has a consensus 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.

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

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