Brookfield Asset Management Inc. (NYSE:BAM) Stock Holdings Raised by Cumberland Partners Ltd

Cumberland Partners Ltd increased its position in Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A) by 10.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,067,624 shares of the financial services provider’s stock after purchasing an additional 102,450 shares during the period. Brookfield Asset Management accounts for 4.6% of Cumberland Partners Ltd’s portfolio, making the stock its 2nd biggest position. Cumberland Partners Ltd owned approximately 0.07% of Brookfield Asset Management worth $60,426,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BAM. CWM LLC purchased a new stake in shares of Brookfield Asset Management in the fourth quarter worth $41,000. Advisor Group Holdings Inc. grew its stake in shares of Brookfield Asset Management by 20.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 117,987 shares of the financial services provider’s stock worth $7,124,000 after acquiring an additional 20,329 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Brookfield Asset Management by 12.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 87,070 shares of the financial services provider’s stock valued at $5,257,000 after purchasing an additional 9,647 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Brookfield Asset Management by 7.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 490,129 shares of the financial services provider’s stock valued at $29,594,000 after purchasing an additional 31,860 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Brookfield Asset Management during the fourth quarter valued at $220,000. 60.24% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Performance

BAM stock traded down $0.77 during trading on Wednesday, reaching $52.30. The stock had a trading volume of 33,392 shares, compared to its average volume of 1,467,400. Brookfield Asset Management Inc. has a 52 week low of $42.21 and a 52 week high of $62.47. The stock’s 50 day moving average is $47.10 and its two-hundred day moving average is $50.98. The company has a current ratio of 1.31, a quick ratio of 1.11 and a debt-to-equity ratio of 1.44. The firm has a market cap of $85.86 billion, a PE ratio of 22.90 and a beta of 1.32.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, August 11th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.23). Brookfield Asset Management had a return on equity of 3.02% and a net margin of 4.48%. During the same period in the previous year, the firm posted $1.01 earnings per share. As a group, equities analysts anticipate that Brookfield Asset Management Inc. will post 3.19 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Tuesday, August 30th. Brookfield Asset Management’s payout ratio is 24.56%.

Insiders Place Their Bets

In other Brookfield Asset Management news, major shareholder Oaktree Capital Management Lp sold 254,754 shares of the company’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $11.32, for a total value of $2,883,815.28. Following the completion of the sale, the insider now owns 12,227,043 shares in the company, valued at $138,410,126.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 610,260 shares of company stock worth $6,909,229 over the last quarter.

Analyst Upgrades and Downgrades

BAM has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, May 20th. Deutsche Bank Aktiengesellschaft lowered their price target on Brookfield Asset Management from $57.00 to $52.00 in a report on Wednesday, July 13th. StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Finally, Credit Suisse Group raised Brookfield Asset Management from a “neutral” rating to an “outperform” rating and upped their price target for the company from $68.00 to $71.50 in a report on Wednesday, April 27th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.17.

Brookfield Asset Management 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.

Further Reading

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

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