Envestnet Asset Management Inc. buys 12,431 shares of Brookfield Asset Management Inc. (NYSE: BAM)


Envestnet Asset Management Inc. increased its stake in shares of Brookfield Asset Management Inc. (NYSE: BAM – Get Rating) (TSE: BAM.A) by 2.5% in the first quarter, the company said in its latest Form 13F . with the SEC. The fund held 502,560 shares of the financial services provider after acquiring an additional 12,431 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Brookfield Asset Management were worth $28,430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently changed their holdings in the company. GoalVest Advisory LLC bought a new stock position from Brookfield Asset Management during the first quarter for $28,000. Benjamin F. Edwards & Company Inc. acquired a new position in Brookfield Asset Management during the fourth quarter worth $38,000. Massmutual Trust Co. FSB ADV increased its position in Brookfield Asset Management by 46.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider valued at $36,000 after buying 201 additional shares in the last quarter. CWM LLC bought a new position in Brookfield Asset Management during the fourth quarter worth $41,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Brookfield Asset Management during the first quarter worth $39,000. Institutional investors hold 60.24% of the company’s shares.

Price performance of Brookfield Asset Management

Brookfield Asset Management stock opened at $49.60 on Tuesday. The company has a 50-day moving average price of $46.72 and a 200-day moving average price of $51.16. The company has a market capitalization of $81.42 billion, a PE ratio of 20.41 and a beta of 1.32. The company has a current ratio of 1.17, a quick ratio of 0.99 and a debt ratio of 1.31. Brookfield Asset Management Inc. has a 12-month low of $42.21 and a 12-month high of $62.47.

Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last reported results on Thursday, May 12. The financial services provider reported earnings per share (EPS) of $0.81 for the quarter, beating the consensus estimate of $0.70 by $0.11. The company posted revenue of $21.88 billion in the quarter, versus analyst estimates of $18.35 billion. Brookfield Asset Management posted a net margin of 5.04% and a return on equity of 3.25%. In the same quarter last year, the company achieved EPS of $1.80. As a group, equity research analysts expect Brookfield Asset Management Inc. to post EPS of 3.23 for the current year.

Brookfield Asset Management announces dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 30. Investors of record on Tuesday, May 31 received a dividend of $0.14. This represents an annualized dividend of $0.56 and a yield of 1.13%. The ex-dividend date was Friday, May 27. Brookfield Asset Management’s dividend payout ratio is currently 23.05%.

Insider buying and selling

Separately, major shareholder Oaktree Capital Management Lp sold 191,591 shares of the company in a transaction dated Thursday, June 2. The shares were sold at an average price of $11.30, for a total value of $2,164,978.30. Following the transaction, the insider now owns 11,622,000 shares of the company, valued at approximately $131,328,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Brookfield Asset Management In sold 756,921 shares of Brookfield Asset Management in a trade that took place on Wednesday, May 11. The shares were sold at an average price of $24.64, for a total value of $18,650,533.44. Following the transaction, the insider now owns 15,127,011 shares of the company, valued at approximately $372,729,551.04. The sale was disclosed in a legal filing with the SEC, accessible via this link. Additionally, major shareholder Oaktree Capital Management Lp sold 191,591 shares of Brookfield Asset Management in a transaction that took place on Thursday, June 2. The stock was sold at an average price of $11.30, for a total transaction of $2,164,978.30. Following the completion of the transaction, the insider now directly owns 11,622,000 shares of the company, valued at approximately $131,328,600. The disclosure of this sale can be found here. Insiders sold 3,994,984 shares of the company valued at $94,356,676 in the past 90 days.

Analyst upgrades and downgrades

Several equity analysts commented on the stock. Deutsche Bank Aktiengesellschaft lowered its price target on Brookfield Asset Management shares from $57.00 to $52.00 in a Wednesday, July 13 research report. Royal Bank of Canada lowered its price target on Brookfield Asset Management shares from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, May 20. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a Friday, July 8 research report. Finally, Credit Suisse Group lowered its price target on Brookfield Asset Management shares from $71.50 to $62.50 and set a “hold” rating for the company in a Thursday, July 28 research report. One analyst has assigned the stock a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned the stock a strong buy rating. According to data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Moderate Buy” and a consensus target price of $64.75.

Brookfield Asset Management Company Profile

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Brookfield Asset Management is an alternative asset manager and REIT/real estate investment manager firm focused on real estate, renewable energy, infrastructure, 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 which other hedge funds hold BAM? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Brookfield Asset Management Inc. (NYSE:BAM – Get Rating) (TSE:BAM.A).

Institutional ownership by quarter for Brookfield Asset Management (NYSE: BAM)



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