Capital Insight Partners LLC increased its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 54.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 34,754 shares of the financial services provider’s stock after purchasing an additional 12,270 shares during the period. Capital Insight Partners LLC’s holdings in Brookfield Asset Management were worth $1,143,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vestcor Investment Management Corp purchased a new position in shares of Brookfield Asset Management during the fourth quarter valued at $35,000. Ameritas Investment Company LLC purchased a new stake in Brookfield Asset Management in the 1st quarter worth about $30,000. Chevy Chase Trust Holdings Inc. purchased a new position in Brookfield Asset Management during the 4th quarter valued at about $40,000. Engrave Wealth Partners LLC acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at about $41,000. Finally, Balentine LLC purchased a new stake in shares of Brookfield Asset Management in the first quarter worth approximately $32,000. Institutional investors own 39.77% of the company’s stock.
BAM has been the topic of a number of research reports. CIBC dropped their price target on shares of Brookfield Asset Management from $48.00 to $44.00 and set an “outperformer” rating on the stock in a research note on Friday, May 15th. ValuEngine lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Zacks Investment Research lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Thursday, May 28th. Royal Bank of Canada lowered their target price on shares of Brookfield Asset Management from $50.00 to $39.00 and set an “outperform” rating on the stock in a research report on Friday, April 3rd. Finally, JPMorgan Chase & Co. assumed coverage on Brookfield Asset Management in a research report on Monday, June 8th. They issued an “overweight” rating for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Brookfield Asset Management has a consensus rating of “Hold” and a consensus price target of $41.35.
BAM opened at $34.10 on Wednesday. The stock has a market cap of $53.64 billion, a PE ratio of 29.91 and a beta of 1.14. Brookfield Asset Management Inc has a 1 year low of $21.57 and a 1 year high of $45.61. The stock’s 50 day simple moving average is $33.48 and its 200-day simple moving average is $45.16. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 1.24.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, May 14th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.68). Brookfield Asset Management had a net margin of 2.74% and a return on equity of 1.79%. The business had revenue of $16.59 billion during the quarter.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a $0.12 dividend. The ex-dividend date was Thursday, May 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. Brookfield Asset Management’s payout ratio is presently 27.75%.
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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