Envestnet Asset Management Inc. Increases Stake in Brookfield Asset Management Inc. (NYSE:BAM)

Envestnet Asset Management Inc. lifted its stake in shares of Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 502,560 shares of the financial services provider’s stock after buying an additional 12,431 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Brookfield Asset Management were worth $28,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Regentatlantic Capital LLC increased its position in shares of Brookfield Asset Management by 22.6% during the first quarter. Regentatlantic Capital LLC now owns 4,805 shares of the financial services provider’s stock valued at $272,000 after buying an additional 887 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Brookfield Asset Management by 5.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,416,151 shares of the financial services provider’s stock valued at $206,309,000 after buying an additional 191,545 shares during the period. Norges Bank purchased a new position in shares of Brookfield Asset Management during the fourth quarter valued at about $810,807,000. Appleton Partners Inc. MA increased its position in shares of Brookfield Asset Management by 0.8% during the first quarter. Appleton Partners Inc. MA now owns 193,440 shares of the financial services provider’s stock valued at $10,943,000 after buying an additional 1,568 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Brookfield Asset Management by 7.4% during the fourth quarter. American Century Companies Inc. now owns 37,960 shares of the financial services provider’s stock valued at $2,292,000 after buying an additional 2,603 shares during the period. Hedge funds and other institutional investors own 60.24% of the company’s stock.

Insider Activity at Brookfield Asset Management

In related news, insider Brookfield Asset Management In sold 1,500,000 shares of the stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $26.63, for a total transaction of $39,945,000.00. Following the transaction, the insider now owns 16,392,780 shares in the company, valued at $436,539,731.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Brookfield Asset Management news, major shareholder Oaktree Capital Management Lp sold 254,754 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $11.32, for a total transaction of $2,883,815.28. Following the completion of the sale, the insider now directly owns 12,227,043 shares of the company’s stock, valued at $138,410,126.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brookfield Asset Management In sold 1,500,000 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $26.63, for a total transaction of $39,945,000.00. Following the sale, the insider now directly owns 16,392,780 shares of the company’s stock, valued at $436,539,731.40. The disclosure for this sale can be found here. Insiders have sold a total of 3,994,984 shares of company stock worth $94,356,676 over the last quarter.

Analyst Ratings Changes

BAM has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Brookfield Asset Management from $57.00 to $52.00 in a research note on Wednesday, July 13th. Royal Bank of Canada dropped their price objective on shares of Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, May 20th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Finally, Credit Suisse Group dropped their price objective on shares of Brookfield Asset Management from $71.50 to $62.50 and set a “maintains” rating on the stock in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.75.

Brookfield Asset Management Trading Down 0.1 %

Shares of NYSE BAM opened at $49.60 on Tuesday. The firm’s 50 day moving average price is $46.72 and its 200-day moving average price is $51.16. The company has a market cap of $81.42 billion, a PE ratio of 20.41 and a beta of 1.32. Brookfield Asset Management Inc. has a 52-week low of $42.21 and a 52-week high of $62.47. 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 issued its quarterly earnings data on Thursday, May 12th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.11. The company had revenue of $21.88 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $1.80 earnings per share. On average, equities research analysts expect that Brookfield Asset Management Inc. will post 3.23 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Tuesday, May 31st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.56 dividend on an annualized basis and a yield of 1.13%. Brookfield Asset Management’s dividend payout ratio (DPR) is 23.05%.

Brookfield Asset Management Company 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

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

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