World Asset Management Inc decreased its holdings in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,864 shares of the financial services provider’s stock after selling 1,130 shares during the quarter. World Asset Management Inc’s holdings in Brookfield Asset Management were worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lenox Wealth Management Inc. boosted its position in Brookfield Asset Management by 862.1% during the first quarter. Lenox Wealth Management Inc. now owns 558 shares of the financial services provider’s stock valued at $26,000 after buying an additional 500 shares during the period. Zions Bancorporation N.A. bought a new position in shares of Brookfield Asset Management during the first quarter valued at about $27,000. Carroll Financial Associates Inc. raised its stake in shares of Brookfield Asset Management by 86.9% during the first quarter. Carroll Financial Associates Inc. now owns 912 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 424 shares during the last quarter. AdvisorNet Financial Inc raised its stake in shares of Brookfield Asset Management by 233.0% during the second quarter. AdvisorNet Financial Inc now owns 979 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 685 shares during the last quarter. Finally, Huntington National Bank bought a new position in shares of Brookfield Asset Management during the second quarter valued at about $48,000. Hedge funds and other institutional investors own 60.83% of the company’s stock.
In related news, Director Brookfield Asset Management In sold 1,900,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $23.75, for a total value of $45,125,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several equities analysts have recently commented on the stock. TD Securities upped their price objective on shares of Brookfield Asset Management from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Citigroup upped their price objective on shares of Brookfield Asset Management from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Brookfield Asset Management in a research note on Friday, April 5th. Six investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $54.00.
Shares of NYSE:BAM traded down $0.29 during midday trading on Friday, hitting $49.02. 1,693,536 shares of the stock traded hands, compared to its average volume of 1,056,800. The stock has a market cap of $48.77 billion, a PE ratio of 15.41 and a beta of 1.12. The stock’s 50 day simple moving average is $48.44. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. Brookfield Asset Management Inc has a one year low of $36.58 and a one year high of $49.79.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Thursday, May 9th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. Brookfield Asset Management had a net margin of 5.63% and a return on equity of 3.86%. The firm had revenue of $15.21 billion during the quarter, compared to the consensus estimate of $12.35 billion. During the same period in the prior year, the firm posted $1.16 earnings per share.
Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.
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