Assenagon Asset Management SA increased its position in shares of Brookfield Asset Management Inc. (NYSE: BAM – Get a rating) (TSE: BAM.A) by 6.2% in the first quarter, according to the company in its latest SEC filing. The company held 19,386 shares of the financial services provider after acquiring an additional 1,126 shares during the quarter. Assenagon Asset Management SA’s holdings in Brookfield Asset Management were worth $1,097,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added or reduced their stakes in the company. Strategic Asset Management LLC increased its holdings of Brookfield Asset Management shares by 121.5% in the fourth quarter. Strategic Asset Management LLC now owns 443 shares of the financial services provider valued at $27,000 after purchasing an additional 243 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings of Brookfield Asset Management shares by 46.2% in Q1. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider valued at $36,000 after buying 201 additional shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stock position in Brookfield Asset Management in Q4 valued at approximately $38,000. CWM LLC acquired a new stock position in Brookfield Asset Management in Q4 valued at approximately $41,000. Finally, Edmond DE Rothschild Holding SA acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds hold 60.24% of the company’s shares.
Insiders place their bets
In other news, insider Brookfield Asset Management In sold 1,500,000 shares of the company in a trade that took place on Friday, May 6. The stock was sold at an average price of $26.63, for a total value of $39,945,000.00. Following the completion of the sale, the insider now directly owns 16,392,780 shares of the company, valued at $436,539,731.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. In other news, insider Brookfield Asset Management In sold 1,500,000 shares of the company in a trade that took place on Friday, May 6. The stock was sold at an average price of $26.63, for a total value of $39,945,000.00. Following the completion of the sale, the insider now directly owns 16,392,780 shares of the company, valued at $436,539,731.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. Additionally, major shareholder Oaktree Capital Management Lp sold 191,591 shares of the company in a transaction that took place on Thursday, June 2. 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 of the company, valued at $131,328,600. Disclosure of this sale can be found here. In the past three months, insiders have sold 4,580,719 shares of the company worth $112,514,461.
Changes to analyst ratings
Several equity analysts have recently released reports on BAM shares. Royal Bank of Canada lowered its price target on Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating for the company in a Friday, May 20 report. Deutsche Bank Aktiengesellschaft lowered its price target on Brookfield Asset Management from $57.00 to $52.00 in a report on Wednesday. Credit Suisse Group upgraded Brookfield Asset Management from a “neutral” rating to an “outperforming” rating and raised its price target for the stock from $68.00 to $71.50 in a Wednesday, April 27 report . To finish, StockNews.com upgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a Friday, July 8 report. One research analyst rated the security with a sell rating, two issued a hold rating, six assigned a buy rating and one gave the security a strong buy rating. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.88.
Price performance of Brookfield Asset Management
NYSE: BAM opened at $44.75 on Friday. Brookfield Asset Management Inc. has a 12-month low of $42.21 and a 12-month high of $62.47. The stock has a 50-day moving average of $46.49 and a 200-day moving average of $52.04. The company has a current ratio of 1.17, a quick ratio of 0.99 and a debt ratio of 1.31. The company has a market capitalization of $73.46 billion, a P/E ratio of 18.42 and a beta of 1.32.
Brookfield Asset Management (NYSE: BAM – Get a rating) (TSE: BAM.A) last released its quarterly earnings data on Thursday, May 12. The financial services provider reported EPS of $0.81 for the quarter, beating the consensus estimate of $0.70 by $0.11. Brookfield Asset Management recorded a return on equity of 3.25% and a net margin of 5.04%. The company posted revenue of $21.88 billion in the quarter, versus analyst estimates of $18.35 billion. During the same period of the previous year, the company achieved EPS of $1.80. On average, analysts expect Brookfield Asset Management Inc. to post earnings per share of 3.23 for the current fiscal year.
Brookfield Asset Management Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Tuesday, May 31 received a dividend of $0.14 per share. The ex-dividend date was Friday, May 27. This represents an annualized dividend of $0.56 and a yield of 1.25%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 23.05%.
Brookfield Asset Management Company Profile
Brookfield Asset Management is an alternative asset manager and REIT/real estate investment manager firm focused on real estate, renewable energy, infrastructure, 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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