Independent Advisor Alliance Boosts Stock Holdings in Brookfield Asset Management Inc. (NYSE:BAM)

Independent Advisor Alliance lifted its stake in shares of Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,637 shares of the financial services provider’s stock after acquiring an additional 543 shares during the quarter. Independent Advisor Alliance’s holdings in Brookfield Asset Management were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Massmutual Trust Co. FSB ADV increased its position in shares of Brookfield Asset Management by 46.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 201 shares during the period. Glassman Wealth Services grew its stake in shares of Brookfield Asset Management by 6.5% during the fourth quarter. Glassman Wealth Services now owns 3,951 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 241 shares in the last quarter. Blue Fin Capital Inc. grew its stake in shares of Brookfield Asset Management by 0.3% during the first quarter. Blue Fin Capital Inc. now owns 77,803 shares of the financial services provider’s stock worth $4,401,000 after purchasing an additional 264 shares in the last quarter. Belpointe Asset Management LLC grew its stake in shares of Brookfield Asset Management by 2.6% during the first quarter. Belpointe Asset Management LLC now owns 10,470 shares of the financial services provider’s stock worth $592,000 after purchasing an additional 268 shares in the last quarter. Finally, Carmel Capital Partners LLC grew its stake in shares of Brookfield Asset Management by 1.2% during the first quarter. Carmel Capital Partners LLC now owns 26,675 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 60.24% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of BAM opened at $49.85 on Friday. Brookfield Asset Management Inc. has a fifty-two week low of $42.21 and a fifty-two week high of $62.47. The company has a market capitalization of $81.83 billion, a price-to-earnings ratio of 20.51 and a beta of 1.32. The firm has a 50-day simple moving average of $46.85 and a 200-day simple moving average of $51.05. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.17.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last posted its quarterly earnings results on Thursday, May 12th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.11. The firm had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $18.35 billion. Brookfield Asset Management had a net margin of 5.04% and a return on equity of 3.25%. During the same period in the prior year, the company posted $1.80 earnings per share. On average, equities research analysts anticipate that Brookfield Asset Management Inc. will post 3.23 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Tuesday, May 31st were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.56 annualized dividend and a yield of 1.12%. Brookfield Asset Management’s dividend payout ratio is currently 23.05%.

Insider Buying and Selling

In related news, major shareholder Oaktree Capital Management Lp sold 191,591 shares of the stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $11.30, for a total transaction of $2,164,978.30. Following the completion of the transaction, the insider now directly owns 11,622,000 shares of the company’s stock, valued at $131,328,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Brookfield Asset Management news, insider Brookfield Asset Management In sold 377,803 shares of the stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $25.21, for a total value of $9,524,413.63. Following the completion of the transaction, the insider now directly owns 16,014,977 shares of the company’s stock, valued at $403,737,570.17. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Oaktree Capital Management Lp sold 191,591 shares of the stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $11.30, for a total transaction of $2,164,978.30. Following the completion of the transaction, the insider now directly owns 11,622,000 shares of the company’s stock, valued at $131,328,600. The disclosure for this sale can be found here. Insiders sold 1,744,984 shares of company stock valued at $35,084,176 over the last ninety days.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BAM. Royal Bank of Canada lowered their target price on shares of Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, May 20th. Credit Suisse Group upgraded shares of Brookfield Asset Management from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $68.00 to $71.50 in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Brookfield Asset Management from $57.00 to $52.00 in a research note on Wednesday, July 13th. Finally, StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Asset Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.88.

Brookfield Asset Management Profile

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Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

See Also

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

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