Bruni J V & Co. Co. Reduces Stake in Brookfield Asset Management Inc (BAM)

Bruni J V & Co. Co. cut its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,186,197 shares of the financial services provider’s stock after selling 23,701 shares during the quarter. Brookfield Asset Management makes up about 9.3% of Bruni J V & Co. Co.’s holdings, making the stock its biggest position. Bruni J V & Co. Co. owned about 0.12% of Brookfield Asset Management worth $48,990,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Karpas Strategies LLC grew its stake in Brookfield Asset Management by 0.5% in the 3rd quarter. Karpas Strategies LLC now owns 262,210 shares of the financial services provider’s stock valued at $10,829,000 after buying an additional 1,275 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Brookfield Asset Management in the 3rd quarter valued at $598,000. Davis Rea LTD. grew its stake in Brookfield Asset Management by 1.4% in the 3rd quarter. Davis Rea LTD. now owns 207,221 shares of the financial services provider’s stock valued at $8,534,000 after buying an additional 2,885 shares during the last quarter. Iridian Asset Management LLC CT grew its stake in Brookfield Asset Management by 48.0% in the 3rd quarter. Iridian Asset Management LLC CT now owns 15,115 shares of the financial services provider’s stock valued at $624,000 after buying an additional 4,900 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Brookfield Asset Management by 8.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 27,482 shares of the financial services provider’s stock valued at $1,135,000 after buying an additional 2,053 shares during the last quarter. Institutional investors and hedge funds own 52.16% of the company’s stock.

A number of research firms recently issued reports on BAM. Scotiabank raised their target price on shares of Brookfield Asset Management from $41.75 to $42.50 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Royal Bank Of Canada raised their target price on shares of Brookfield Asset Management from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. TD Securities raised their target price on shares of Brookfield Asset Management from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Canaccord Genuity reiterated a “buy” rating and issued a $42.00 target price on shares of Brookfield Asset Management in a research note on Friday, August 11th. Finally, TheStreet lowered shares of Brookfield Asset Management from a “b” rating to a “c+” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $47.00.

Shares of Brookfield Asset Management Inc (NYSE:BAM) traded up $0.17 during trading on Monday, reaching $41.41. 937,200 shares of the company’s stock were exchanged, compared to its average volume of 877,030. The company has a current ratio of 1.29, a quick ratio of 1.01 and a debt-to-equity ratio of 0.92. Brookfield Asset Management Inc has a 12-month low of $32.41 and a 12-month high of $43.15. The company has a market cap of $40,960.00, a P/E ratio of 92.02 and a beta of 1.06.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.14. This represents a $0.72 dividend on an annualized basis and a yield of 1.74%. Brookfield Asset Management’s dividend payout ratio is 121.74%.

ILLEGAL ACTIVITY NOTICE: “Bruni J V & Co. Co. Reduces Stake in Brookfield Asset Management Inc (BAM)” was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2017/11/20/bruni-j-v-co-co-reduces-stake-in-brookfield-asset-management-inc-bam.html.

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.

Want to see what other hedge funds are holding BAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A).

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

Receive News & Ratings for Brookfield Asset Management Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply