Pure Financial Advisors LLC grew its position in shares of Brookfield Asset Management Inc. (NYSE:BAM – Get Rating) (TSE:BAM.A) by 11.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 6,406 shares of the financial services provider’s stock after acquiring an additional 676 shares during the period. Pure Financial Advisors LLC’s holdings in Brookfield Asset Management were worth $362,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its position in shares of Brookfield Asset Management by 46.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 201 shares during the last quarter. Glassman Wealth Services grew its position in Brookfield Asset Management by 6.5% during the 4th quarter. Glassman Wealth Services now owns 3,951 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 241 shares during the last quarter. Strategic Asset Management LLC grew its position in Brookfield Asset Management by 121.5% during the 4th quarter. Strategic Asset Management LLC now owns 443 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 243 shares during the last quarter. Raymond James Trust N.A. grew its position in Brookfield Asset Management by 2.0% during the 4th quarter. Raymond James Trust N.A. now owns 12,829 shares of the financial services provider’s stock worth $775,000 after acquiring an additional 247 shares during the last quarter. Finally, SOL Capital Management CO grew its position in Brookfield Asset Management by 0.5% during the 4th quarter. SOL Capital Management CO now owns 55,440 shares of the financial services provider’s stock worth $3,347,000 after acquiring an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 60.24% of the company’s stock.
Several equities analysts recently issued reports on the company. Royal Bank of Canada reduced their price target on Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Friday, May 20th. Credit Suisse Group upgraded Brookfield Asset Management from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $68.00 to $71.50 in a research report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft reduced their price target on Brookfield Asset Management from $60.00 to $57.00 in a research report on Thursday, May 19th. Finally, StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, April 30th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.50.
NYSE BAM opened at $43.51 on Thursday. Brookfield Asset Management Inc. has a fifty-two week low of $42.86 and a fifty-two week high of $62.47. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.99 and a current ratio of 1.17. The stock has a 50 day simple moving average of $48.91 and a two-hundred day simple moving average of $53.72. The stock has a market cap of $71.42 billion, a P/E ratio of 17.91 and a beta of 1.31.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last released its earnings results on Thursday, May 12th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.11. The company had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $18.35 billion. Brookfield Asset Management had a return on equity of 3.25% and a net margin of 5.04%. During the same quarter last year, the business posted $1.80 EPS. Sell-side analysts predict that Brookfield Asset Management Inc. will post 3.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Tuesday, May 31st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, May 27th. Brookfield Asset Management’s payout ratio is presently 23.05%.
Brookfield Asset Management Company Profile (Get Rating)
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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