A number of other hedge funds and other institutional investors have also modified their holdings of BAM. Massmutual Trust Co. FSB ADV raised its holdings in shares of Brookfield Asset Management by 46.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock valued at $36,000 after buying an additional 201 shares during the last quarter. Glassman Wealth Services increased its holdings in shares of Brookfield Asset Management by 6.5% during the fourth quarter. Glassman Wealth Services now owns 3,951 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 241 shares during the period. Blue Fin Capital Inc. raised its stake in shares of Brookfield Asset Management by 0.3% during the first quarter. Blue Fin Capital Inc. now owns 77,803 shares of the financial services provider’s stock valued at $4,401,000 after purchasing an additional 264 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in Brookfield Asset Management by 2.6% in the first quarter. Belpointe Asset Management LLC now owns 10,470 shares of the financial services provider’s stock worth $592,000 after purchasing an additional 268 shares during the period. Finally, Carmel Capital Partners LLC grew its position in Brookfield Asset Management by 1.2% in the 1st quarter. Carmel Capital Partners LLC now owns 26,675 shares of the financial services provider’s stock valued at $1,509,000 after buying an additional 306 shares in the last quarter. 60.24% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
BAM has been the subject of a number of recent analyst reports. Royal Bank of Canada dropped their price target on shares of Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Friday, May 20th. Deutsche Bank Aktiengesellschaft cut their target price on Brookfield Asset Management from $57.00 to $52.00 in a research report on Wednesday, July 13th. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Credit Suisse Group raised Brookfield Asset Management from a “neutral” rating to an “outperform” rating and raised their target price for the company from $68.00 to $71.50 in a research note on Wednesday, April 27th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.88.
Insiders Place Their Bets
In other Brookfield Asset Management news, major shareholder Oaktree Capital Management Lp sold 191,591 shares of the stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $11.30, for a total value of $2,164,978.30. Following the completion of the sale, the insider now directly owns 11,622,000 shares in the company, valued at $131,328,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Brookfield Asset Management sold 756,921 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $24.64, for a total transaction of $18,650,533.44. Following the transaction, the insider now directly owns 15,127,011 shares in the company, valued at $372,729,551.04. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Oaktree Capital Management Lp sold 191,591 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $11.30, for a total value of $2,164,978.30. Following the completion of the sale, the insider now owns 11,622,000 shares in the company, valued at approximately $131,328,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,744,984 shares of company stock worth $35,084,176.
Brookfield Asset Management Stock Down 0.8%
Shares of BAM stock opened at $49.85 on Friday. The stock’s 50 day simple moving average is $46.85 and its 200 day simple moving average is $51.05. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.17. Brookfield Asset Management Inc. has a twelve month low of $42.21 and a twelve month high of $62.47. The company has a market capitalization of $81.83 billion, a price-to-earnings ratio of 20.51 and a beta of 1.32.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last announced its quarterly earnings results on Thursday, May 12th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.11. The firm had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $18.35 billion. Brookfield Asset Management had a net margin of 5.04% and a return on equity of 3.25%. During the same quarter last year, the company earned $1.80 earnings per share. As a group, research analysts predict that Brookfield Asset Management Inc. will post 3.23 EPS for the current year.
Brookfield Asset Management Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Tuesday, May 31st were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.56 annualized dividend and a dividend yield of 1.12%. Brookfield Asset Management’s dividend payout ratio is currently 23.05%.
Brookfield Asset Management Profile
Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focused on real estate, renewable energy, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.
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