Wellington Management Group LLP Sells 96,447 Shares of Brookfield Asset Management Inc. (NYSE:BAM)

Wellington Management Group LLP decreased its position in shares of Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,490,436 shares of the financial services provider’s stock after selling 96,447 shares during the period. Wellington Management Group LLP owned 1.13% of Brookfield Asset Management worth $1,046,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Wetherby Asset Management Inc. lifted its position in Brookfield Asset Management by 1.8% during the first quarter. Wetherby Asset Management Inc. now owns 26,054 shares of the financial services provider’s stock valued at $1,474,000 after acquiring an additional 469 shares during the last quarter. Ewing Morris & Co. Investment Partners Ltd. purchased a new stake in Brookfield Asset Management during the first quarter valued at approximately $3,887,000. United Capital Financial Advisers LLC raised its holdings in shares of Brookfield Asset Management by 3.6% in the first quarter. United Capital Financial Advisers LLC now owns 229,611 shares of the financial services provider’s stock worth $12,989,000 after buying an additional 7,876 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of Brookfield Asset Management in the first quarter worth $410,000. Finally, Greenlea Lane Capital Management LLC raised its holdings in shares of Brookfield Asset Management by 3.3% in the first quarter. Greenlea Lane Capital Management LLC now owns 944,388 shares of the financial services provider’s stock worth $53,424,000 after buying an additional 30,012 shares during the last quarter. Hedge funds and other institutional investors own 59.54% of the company’s stock.

Brookfield Asset Management Stock Up 1.8 %

Shares of NYSE BAM opened at $50.30 on Monday. The company’s 50-day simple moving average is $48.70 and its 200-day simple moving average is $50.22. Brookfield Asset Management Inc. has a 52-week low of $42.21 and a 52-week high of $62.47. The firm has a market cap of $82.31 billion, a price-to-earnings ratio of 22.06 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 1.44.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last announced its earnings results on Thursday, August 11th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 earnings per share. Equities analysts predict that Brookfield Asset Management Inc. will post 3.19 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, August 31st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Tuesday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 24.56%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BAM shares. TD Securities started coverage on shares of Brookfield Asset Management in a report on Friday. They issued an “action list buy” rating and a $72.00 price target for the company. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. 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 for the company in a report on Friday, May 20th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Brookfield Asset Management from $57.00 to $52.00 in a report on Wednesday, July 13th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.33.

Brookfield Asset Management Company Profile

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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.

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

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