AMP Capital Investors Ltd trimmed its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,576 shares of the financial services provider’s stock after selling 5,589 shares during the quarter. AMP Capital Investors Ltd’s holdings in Brookfield Asset Management were worth $10,876,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of BAM. FMR LLC raised its stake in shares of Brookfield Asset Management by 246.6% in the first quarter. FMR LLC now owns 4,268,334 shares of the financial services provider’s stock valued at $198,939,000 after purchasing an additional 3,036,953 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Brookfield Asset Management by 16.3% during the first quarter. The Manufacturers Life Insurance Company now owns 13,809,349 shares of the financial services provider’s stock worth $644,206,000 after acquiring an additional 1,932,199 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Brookfield Asset Management during the second quarter worth $75,425,000. FIL Ltd raised its stake in Brookfield Asset Management by 7.8% during the first quarter. FIL Ltd now owns 20,918,094 shares of the financial services provider’s stock worth $974,566,000 after acquiring an additional 1,518,467 shares in the last quarter. Finally, National Pension Service acquired a new stake in shares of Brookfield Asset Management in the second quarter valued at $62,289,000. Institutional investors and hedge funds own 60.87% of the company’s stock.
Brookfield Asset Management stock traded up $0.33 during mid-day trading on Friday, hitting $52.62. The stock had a trading volume of 1,402,672 shares, compared to its average volume of 2,533,497. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.29. Brookfield Asset Management Inc has a 12 month low of $36.58 and a 12 month high of $54.47. The stock has a market capitalization of $51.40 billion, a PE ratio of 17.70 and a beta of 1.06. The stock has a 50-day simple moving average of $52.43 and a two-hundred day simple moving average of $49.14.
The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 30th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, August 29th.
A number of brokerages have recently weighed in on BAM. BMO Capital Markets raised their target price on Brookfield Asset Management from $55.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. ValuEngine lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Citigroup raised their price target on Brookfield Asset Management from $56.00 to $62.50 and gave the company a “buy” rating in a report on Friday, September 27th. Canaccord Genuity set a $62.00 price target on Brookfield Asset Management and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Royal Bank of Canada raised their price target on Brookfield Asset Management from $54.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $58.93.
Brookfield Asset Management 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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