Herold Advisors Inc. Has $2.64 Million Position in Brookfield Asset Management Inc. (NYSE:BAM)

Herold Advisors Inc. cut its holdings in Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,340 shares of the financial services provider’s stock after selling 1,310 shares during the period. Brookfield Asset Management makes up approximately 1.2% of Herold Advisors Inc.’s portfolio, making the stock its 21st biggest position. Herold Advisors Inc.’s holdings in Brookfield Asset Management were worth $2,638,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in BAM. GoalVest Advisory LLC bought a new position in shares of Brookfield Asset Management in the 1st quarter worth about $28,000. Massmutual Trust Co. FSB ADV raised its position in shares of Brookfield Asset Management by 46.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 201 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Brookfield Asset Management in the 1st quarter worth about $39,000. Financial Management Professionals Inc. raised its position in shares of Brookfield Asset Management by 559.1% in the 1st quarter. Financial Management Professionals Inc. now owns 725 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 615 shares in the last quarter. Finally, GHP Investment Advisors Inc. bought a new position in shares of Brookfield Asset Management in the 1st quarter worth about $42,000. 59.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Opps Tpic Holdings, Llc sold 3,963,416 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $18.85, for a total value of $74,710,391.60. Following the transaction, the insider now owns 12,263 shares in the company, valued at approximately $231,157.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analyst Ratings Changes

Several research analysts have recently weighed in on BAM shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Brookfield Asset Management from $57.00 to $52.00 in a research report on Wednesday, July 13th. TD Securities boosted their target price on Brookfield Asset Management from $72.00 to $73.00 and gave the company an “action list buy” rating in a research report on Thursday, September 15th. Finally, StockNews.com lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Brookfield Asset Management Stock Down 3.8 %

BAM traded down $1.75 during midday trading on Friday, reaching $43.81. 2,934,073 shares of the company were exchanged, compared to its average volume of 1,683,926. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.11 and a current ratio of 1.31. The company’s fifty day moving average price is $49.35 and its 200 day moving average price is $49.92. The company has a market cap of $71.69 billion, a price-to-earnings ratio of 19.24 and a beta of 1.31. Brookfield Asset Management Inc. has a one year low of $42.21 and a one year high of $62.47.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last issued its quarterly earnings data 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 prior year, the business earned $1.01 EPS. As a group, analysts expect that Brookfield Asset Management Inc. will post 3.19 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 24.56%.

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.

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

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