Bank of America Corp DE Sells 182,432 Shares of Brookfield Asset Management Inc. (NYSE:BAM)

Bank of America Corp DE decreased its stake in shares of Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,389,657 shares of the financial services provider’s stock after selling 182,432 shares during the period. Bank of America Corp DE owned approximately 0.27% of Brookfield Asset Management worth $248,323,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Walleye Capital LLC bought a new stake in shares of Brookfield Asset Management during the first quarter worth $443,000. Advisory Services Network LLC boosted its holdings in Brookfield Asset Management by 3.8% during the first quarter. Advisory Services Network LLC now owns 49,176 shares of the financial services provider’s stock worth $2,782,000 after purchasing an additional 1,800 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Brookfield Asset Management by 10.2% during the first quarter. Chicago Partners Investment Group LLC now owns 134,759 shares of the financial services provider’s stock worth $6,184,000 after purchasing an additional 12,452 shares during the last quarter. Capital International Sarl boosted its holdings in Brookfield Asset Management by 15.1% during the first quarter. Capital International Sarl now owns 117,445 shares of the financial services provider’s stock worth $6,644,000 after purchasing an additional 15,382 shares during the last quarter. Finally, Capital Group International Inc. CA boosted its holdings in Brookfield Asset Management by 26.8% during the first quarter. Capital Group International Inc. CA now owns 1,225,906 shares of the financial services provider’s stock worth $69,350,000 after purchasing an additional 258,862 shares during the last quarter. Institutional investors own 59.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on BAM. TD Securities increased their target price on shares of Brookfield Asset Management from $72.00 to $73.00 and gave the stock an “action list buy” rating in a report on Thursday, September 15th. StockNews.com cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Brookfield Asset Management from $57.00 to $52.00 in a report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.50.

Insider Activity

In other news, major shareholder Opps Tpic Holdings, Llc sold 3,963,416 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $18.85, for a total value of $74,710,391.60. Following the transaction, the insider now directly owns 12,263 shares of the company’s stock, valued at $231,157.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Brookfield Asset Management Stock Performance

Shares of BAM stock opened at $47.42 on Wednesday. The stock has a market cap of $77.60 billion, a P/E ratio of 20.80 and a beta of 1.31. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.31 and a quick ratio of 1.11. The company has a fifty day moving average price of $49.21 and a two-hundred day moving average price of $50.01. Brookfield Asset Management Inc. has a one year low of $42.21 and a one year high of $62.47.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last announced its quarterly earnings results on Thursday, August 11th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.23). Brookfield Asset Management had a net margin of 4.48% and a return on equity of 3.02%. During the same quarter last year, the firm posted $1.01 earnings per share. As a group, equities analysts predict that Brookfield Asset Management Inc. will post 3.19 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, August 31st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, August 30th. Brookfield Asset Management’s payout ratio is presently 24.56%.

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.

Further Reading

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

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