Hexavest Inc. cut its position in Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A) by 88.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,645 shares of the financial services provider’s stock after selling 60,952 shares during the period. Hexavest Inc.’s holdings in Brookfield Asset Management were worth $252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of BAM. Ameritas Investment Company LLC purchased a new position in Brookfield Asset Management in the 1st quarter valued at $30,000. Balentine LLC purchased a new position in Brookfield Asset Management in the 1st quarter valued at $32,000. Toth Financial Advisory Corp purchased a new position in Brookfield Asset Management in the 2nd quarter valued at $26,000. City Holding Co. lifted its holdings in Brookfield Asset Management by 49.7% in the 2nd quarter. City Holding Co. now owns 934 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 310 shares in the last quarter. Finally, CWM LLC lifted its holdings in Brookfield Asset Management by 112.5% in the 2nd quarter. CWM LLC now owns 1,156 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 612 shares in the last quarter. Hedge funds and other institutional investors own 59.29% of the company’s stock.
A number of research analysts have weighed in on the company. Scotiabank raised their price objective on Brookfield Asset Management from $42.00 to $42.50 in a report on Friday, September 25th. ValuEngine upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, August 13th. TD Securities raised their price objective on Brookfield Asset Management from $45.00 to $46.00 and gave the company an “action list buy” rating in a report on Friday, September 25th. Keefe, Bruyette & Woods upgraded Brookfield Asset Management from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $37.00 to $41.00 in a report on Monday, August 17th. Finally, Zacks Investment Research lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Brookfield Asset Management presently has an average rating of “Buy” and a consensus price target of $41.04.
NYSE BAM opened at $34.00 on Thursday. Brookfield Asset Management Inc. has a 52 week low of $21.57 and a 52 week high of $45.61. The company has a quick ratio of 0.82, a current ratio of 1.03 and a debt-to-equity ratio of 1.28. The business’s fifty day simple moving average is $33.66 and its 200-day simple moving average is $33.54. The firm has a market cap of $55.33 billion, a PE ratio of 74.79 and a beta of 1.07.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Thursday, August 13th. The financial services provider reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.86). The company had revenue of $12.83 billion during the quarter. Brookfield Asset Management had a net margin of 1.30% and a return on equity of 0.78%. During the same quarter in the prior year, the business posted $0.24 EPS. Research analysts expect that Brookfield Asset Management Inc. will post 1.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, August 31st were issued a $0.12 dividend. The ex-dividend date was Friday, August 28th. This represents a $0.48 annualized dividend and a yield of 1.41%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 27.75%.
About Brookfield Asset Management
Brookfield Asset Management is a leading global alternative asset manager and one of the largest investors in real assets. Our investment focus is on real estate, renewable power, infrastructure and private equity assets. Our objective is to generate attractive long-term risk-adjusted returns for the benefit of our clients and shareholders.
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