Brookfield Asset Management Inc. (NYSE:BAM) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance increased its position in shares of Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A) by 6.7% during the first quarter, Holdings Channel reports. The fund owned 8,637 shares of the financial services provider’s stock after acquiring an additional 543 shares during the quarter. Independent Advisor Alliance’s holdings in Brookfield Asset Management were worth $489,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Capital World Investors boosted its position in Brookfield Asset Management by 2.1% during the fourth quarter. Capital World Investors now owns 19,732,888 shares of the financial services provider’s stock worth $1,191,496,000 after acquiring an additional 406,898 shares during the last quarter. Norges Bank acquired a new position in shares of Brookfield Asset Management in the 4th quarter valued at $810,807,000. CIBC World Markets Inc. boosted its holdings in shares of Brookfield Asset Management by 1.4% in the 4th quarter. CIBC World Markets Inc. now owns 12,689,173 shares of the financial services provider’s stock valued at $766,172,000 after purchasing an additional 174,794 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Brookfield Asset Management by 0.3% in the 4th quarter. Toronto Dominion Bank now owns 9,745,444 shares of the financial services provider’s stock valued at $588,482,000 after purchasing an additional 26,368 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Brookfield Asset Management by 1.1% in the 4th quarter. Legal & General Group Plc now owns 6,580,593 shares of the financial services provider’s stock valued at $397,958,000 after purchasing an additional 70,117 shares during the last quarter. Institutional investors and hedge funds own 60.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BAM. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Brookfield Asset Management from $57.00 to $52.00 in a report on Wednesday, July 13th. Credit Suisse Group upgraded shares of Brookfield Asset Management from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $68.00 to $71.50 in a report on Wednesday, April 27th. Finally, Royal Bank of Canada reduced their target price on shares of Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, May 20th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.88.

Insider Buying and Selling

In other news, major shareholder Oaktree Capital Management Lp sold 163,915 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $11.35, for a total value of $1,860,435.25. Following the completion of the sale, the insider now owns 12,727,802 shares of the company’s stock, valued at approximately $144,460,552.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Brookfield Asset Management In sold 377,803 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $25.21, for a total value of $9,524,413.63. Following the completion of the sale, the insider now owns 16,014,977 shares of the company’s stock, valued at approximately $403,737,570.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Oaktree Capital Management Lp sold 163,915 shares of the business’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $11.35, for a total transaction of $1,860,435.25. Following the completion of the sale, the insider now directly owns 12,727,802 shares of the company’s stock, valued at approximately $144,460,552.70. The disclosure for this sale can be found here. Insiders have sold 1,744,984 shares of company stock valued at $35,084,176 in the last quarter.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $49.85 on Friday. Brookfield Asset Management Inc. has a 12-month low of $42.21 and a 12-month high of $62.47. The company has a market capitalization of $81.83 billion, a price-to-earnings ratio of 20.51 and a beta of 1.32. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.17 and a quick ratio of 0.99. The firm’s fifty day moving average price is $46.85 and its 200 day moving average price is $51.05.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last released its quarterly earnings results on Thursday, May 12th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.11. Brookfield Asset Management had a net margin of 5.04% and a return on equity of 3.25%. The firm had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $18.35 billion. During the same quarter in the previous year, the firm posted $1.80 EPS. On average, research analysts forecast that Brookfield Asset Management Inc. will post 3.23 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Tuesday, May 31st were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.12%. The ex-dividend date was Friday, May 27th. Brookfield Asset Management’s dividend payout ratio (DPR) is 23.05%.

About Brookfield Asset Management

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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

Want to see what other hedge funds are holding BAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A).

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

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