Kayne Anderson Rudnick Investment Management LLC Has $1.95 Million Stake in Brookfield Asset Management (BAM)

Kayne Anderson Rudnick Investment Management LLC lowered its stake in shares of Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) by 2.6% during the 1st quarter, Holdings Channel reports. The firm owned 49,910 shares of the financial services provider’s stock after selling 1,330 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Brookfield Asset Management were worth $1,947,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. bought a new position in shares of Brookfield Asset Management during the 4th quarter valued at approximately $103,000. First Personal Financial Services bought a new position in shares of Brookfield Asset Management during the 4th quarter valued at approximately $107,000. Calton & Associates Inc. bought a new position in shares of Brookfield Asset Management during the 4th quarter valued at approximately $118,000. Moors & Cabot Inc. bought a new position in shares of Brookfield Asset Management during the 4th quarter valued at approximately $209,000. Finally, Advisor Partners LLC bought a new position in shares of Brookfield Asset Management during the 1st quarter valued at approximately $220,000. 60.77% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on BAM shares. TheStreet raised Brookfield Asset Management from a “c+” rating to a “b” rating in a research report on Wednesday, April 11th. Scotiabank set a $49.00 target price on Brookfield Asset Management and gave the company a “buy” rating in a research report on Saturday, February 17th. TD Securities boosted their target price on Brookfield Asset Management from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Royal Bank of Canada boosted their target price on Brookfield Asset Management from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $48.75.

Shares of Brookfield Asset Management stock opened at $40.40 on Friday. The firm has a market capitalization of $38.66 billion, a price-to-earnings ratio of 17.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 1.19. Brookfield Asset Management has a 52 week low of $37.22 and a 52 week high of $44.33.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, May 10th. The financial services provider reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $1.00. The company had revenue of $12.63 billion for the quarter. Brookfield Asset Management had a return on equity of 3.18% and a net margin of 4.97%. The business’s revenue was up 110.5% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Thursday, May 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, May 30th.

Brookfield Asset Management Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.

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

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