Walleye Capital LLC bought a new stake in shares of Brookfield Asset Management Inc. (NYSE:BAM – Get Rating) (TSE:BAM.A) in the first quarter, Holdings Channel.com reports. The firm bought 7,837 shares of the financial services provider’s stock, valued at approximately $443,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BAM. GoalVest Advisory LLC acquired a new stake in shares of Brookfield Asset Management in the 1st quarter worth approximately $28,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Brookfield Asset Management by 46.2% in the 1st 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. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Brookfield Asset Management during the first quarter valued at approximately $39,000. Financial Management Professionals Inc. lifted its stake in Brookfield Asset Management by 559.1% during the first quarter. Financial Management Professionals Inc. now owns 725 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 615 shares during the last quarter. Finally, GHP Investment Advisors Inc. acquired a new stake in Brookfield Asset Management during the first quarter valued at approximately $42,000. 59.54% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Brookfield Asset Management from $57.00 to $52.00 in a research note on Wednesday, July 13th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Monday. Finally, TD Securities increased their target price on shares of Brookfield Asset Management from $72.00 to $73.00 and gave the company an “action list buy” rating in a research note on Thursday, September 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.
Brookfield Asset Management Stock Down 1.9 %
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last released its quarterly earnings results on Thursday, August 11th. The financial services provider reported $0.34 earnings per share (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 business posted $1.01 EPS. As a group, equities research analysts anticipate that Brookfield Asset Management Inc. will post 3.19 EPS for the current year.
Brookfield Asset Management Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.23%. Brookfield Asset Management’s dividend payout ratio is currently 24.56%.
Insider Buying and Selling at Brookfield Asset Management
In other Brookfield Asset Management news, major shareholder Opps Tpic Holdings, Llc sold 3,963,416 shares of the company’s stock in a transaction that occurred on 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 owns 12,263 shares in the company, valued at approximately $231,157.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Brookfield Asset Management Company Profile
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.
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