Axa Has $20.79 Million Holdings in Brookfield Asset Management Inc (BAM)
Axa lowered its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 26.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 503,260 shares of the financial services provider’s stock after selling 184,750 shares during the quarter. Axa owned approximately 0.05% of Brookfield Asset Management worth $20,785,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. QS Investors LLC raised its holdings in shares of Brookfield Asset Management by 69.8% during the 2nd quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock valued at $110,000 after buying an additional 1,150 shares in the last quarter. Veritas Investment Management UK Ltd purchased a new position in Brookfield Asset Management in the 3rd quarter worth approximately $149,000. Atlantic Trust LLC purchased a new position in Brookfield Asset Management in the 2nd quarter worth approximately $191,000. Bronfman E.L. Rothschild L.P. increased its stake in Brookfield Asset Management by 112.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,176 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 2,738 shares during the period. Finally, HM Payson & Co. bought a new stake in shares of Brookfield Asset Management in the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 54.44% of the company’s stock.
A number of equities research analysts have recently weighed in on BAM shares. Royal Bank of Canada lifted their price objective on Brookfield Asset Management from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Scotiabank lifted their price objective on Brookfield Asset Management from $44.75 to $45.50 and gave the stock an “outperform” rating in a research report on Friday, November 10th. ValuEngine lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. TheStreet lowered Brookfield Asset Management from a “b” rating to a “c+” rating in a research report on Thursday, November 16th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $47.00 price objective on shares of Brookfield Asset Management in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.00.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.18 per share. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 1.64%. Brookfield Asset Management’s payout ratio is presently 124.45%.
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Brookfield Asset Management Profile
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.
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