LGT Capital Partners LTD. Cuts Stake in Brookfield Asset Management Inc (NYSE:BAM)
LGT Capital Partners LTD. lowered its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 402,020 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. Brookfield Asset Management accounts for 1.4% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 28th largest holding. LGT Capital Partners LTD.’s holdings in Brookfield Asset Management were worth $19,275,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in BAM. Lenox Wealth Management Inc. raised its position in Brookfield Asset Management by 862.1% during the 1st quarter. Lenox Wealth Management Inc. now owns 558 shares of the financial services provider’s stock worth $26,000 after buying an additional 500 shares during the last quarter. Zions Bancorporation N.A. purchased a new position in shares of Brookfield Asset Management in the 1st quarter valued at about $27,000. YorkBridge Wealth Partners LLC increased its holdings in shares of Brookfield Asset Management by 116.0% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 838 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 450 shares in the last quarter. Carroll Financial Associates Inc. increased its holdings in shares of Brookfield Asset Management by 86.9% in the 1st quarter. Carroll Financial Associates Inc. now owns 912 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 424 shares in the last quarter. Finally, Contravisory Investment Management Inc. increased its holdings in shares of Brookfield Asset Management by 213.6% in the 1st quarter. Contravisory Investment Management Inc. now owns 1,411 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 961 shares in the last quarter. Institutional investors own 60.78% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. BMO Capital Markets reiterated a “buy” rating on shares of Brookfield Asset Management in a report on Friday, April 5th. TD Securities cut their price target on shares of Total Energy Services from C$11.50 to C$10.00 and set a “hold” rating for the company in a report on Friday, May 10th. Finally, Citigroup downgraded shares of Apergy from a “buy” rating to a “neutral” rating and cut their price target for the company from $41.00 to $34.00 in a report on Tuesday, July 9th. Six analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $54.00.
Shares of BAM traded up $0.30 during trading hours on Tuesday, reaching $48.29. The company had a trading volume of 1,121,433 shares, compared to its average volume of 1,337,908. The firm has a 50 day moving average of $48.07. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $47.74 billion, a P/E ratio of 15.12 and a beta of 1.11. Brookfield Asset Management Inc has a 12-month low of $36.58 and a 12-month high of $49.40.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Thursday, May 9th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $15.21 billion during the quarter, compared to the consensus estimate of $12.35 billion. Brookfield Asset Management had a net margin of 5.63% and a return on equity of 3.86%. During the same quarter last year, the firm posted $1.16 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.33%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, May 30th.
About Brookfield Asset Management
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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