Essex Financial Services Inc. lowered its position in Brookfield Asset Management Inc. (NYSE:BAM) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,202 shares of the company’s stock after selling 750 shares during the period. Essex Financial Services Inc.’s holdings in Brookfield Asset Management were worth $536,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can bought a new position in Brookfield Asset Management during the second quarter worth $1,134,262,000. Candriam Luxembourg S.C.A. boosted its position in Brookfield Asset Management by 603.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 373,725 shares of the company’s stock worth $12,300,000 after buying an additional 320,579 shares during the last quarter. Allen Investment Management LLC boosted its position in Brookfield Asset Management by 13.2% in the first quarter. Allen Investment Management LLC now owns 25,458 shares of the company’s stock worth $886,000 after buying an additional 2,969 shares during the last quarter. Virginia Retirement System bought a new position in Brookfield Asset Management during the first quarter worth $321,000. Finally, BlackRock Group LTD boosted its position in Brookfield Asset Management by 94.4% in the first quarter. BlackRock Group LTD now owns 913,610 shares of the company’s stock worth $31,784,000 after buying an additional 443,533 shares during the last quarter. 53.30% of the stock is owned by hedge funds and other institutional investors.
Shares of Brookfield Asset Management Inc. (NYSE:BAM) traded down 0.08% during midday trading on Monday, hitting $35.54. 557,973 shares of the stock were exchanged. The firm has a market cap of $34.08 billion, a P/E ratio of 27.49 and a beta of 0.96. Brookfield Asset Management Inc. has a 12-month low of $25.72 and a 12-month high of $36.13. The firm has a 50 day moving average of $34.47 and a 200 day moving average of $34.05.
Brookfield Asset Management (NYSE:BAM) last issued its quarterly earnings results on Friday, August 12th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.23 by $0.39. Brookfield Asset Management had a net margin of 6.47% and a return on equity of 2.54%. The firm earned $5.97 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the business posted $0.65 earnings per share. Brookfield Asset Management’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts forecast that Brookfield Asset Management Inc. will post $0.93 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, August 31st were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is 39.39%.
A number of equities analysts recently weighed in on BAM shares. Credit Suisse Group AG set a $36.00 price objective on shares of Brookfield Asset Management and gave the stock a “hold” rating in a research report on Monday, August 22nd. TheStreet cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Monday, September 19th. TD Securities reaffirmed a “buy” rating and set a $46.00 price objective on shares of Brookfield Asset Management in a research report on Sunday, October 2nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $42.00 price objective (up previously from $40.00) on shares of Brookfield Asset Management in a research report on Monday, September 26th. Finally, RBC Capital Markets raised shares of Brookfield Asset Management from an “outperform” rating to a “top pick” rating and set a $41.00 price target for the company in a research report on Wednesday, September 21st. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. Brookfield Asset Management has a consensus rating of “Buy” and an average target price of $40.14.
About Brookfield Asset Management
Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.