Brookfield Asset Management Inc. (NYSE: BAM – Get Rating) (TSE: BAM.A) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $ 43.44 and last traded at $ 43.47, with a volume of 39340 shares changing hands. The stock had previously closed at $ 45.72.
A number of analysts recently issued reports on the company. StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, April 30th. Deutsche Bank Aktiengesellschaft decreased their target price on Brookfield Asset Management from $ 60.00 to $ 57.00 in a research report on Thursday, May 19th. Credit Suisse Group raised Brookfield Asset Management from a “neutral” rating to an “outperform” rating and upped their target price for the company from $ 68.00 to $ 71.50 in a research report on Wednesday, April 27th. Finally, Royal Bank of Canada reduced their target price on Brookfield Asset Management from $ 72.00 to $ 68.00 and set an “outperform” rating for the company in a research report on Friday, May 20th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company stock. Based on data from MarketBeat, Brookfield Asset Management presently has an average rating of “Buy” and an average target price of $ 66.00.
The business has a 50-day simple moving average of $ 49.56 and a two-hundred day simple moving average of $ 53.98. 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 company has a market capitalization of $ 71.19 billion, a price-to-earnings ratio of 17.85 and a beta of 1.31.
Brookfield Asset Management (NYSE: BAM – Get Rating) (TSE: BAM.A) last issued its earnings results on Thursday, May 12th. The financial services provider reported $ 0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 0.70 by $ 0.11. The business had revenue of $ 21.88 billion during the quarter, compared to the estimate consensus 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 period in the prior year, the business posted $ 1.80 EPS. Research analysts predict that Brookfield Asset Management Inc. will post 3.24 EPS for the current fiscal year.
The firm 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 dividend of $ 0.14 per share. This represents a $ 0.56 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, May 27th. Brookfield Asset Management’s dividend payout ratio (DPR) is 23.05%.
In other news, major shareholder Oaktree Capital Management Lp sold 191,591 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $ 11.30, for a total transaction of $ 2,164,978.30. Following the completion of the transaction, the insider now directly owns 11,622,000 shares of the company stock, valued at approximately $ 131,328,600. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the firm’s stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $ 31.00, for a total value of $ 18,157,785.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,586,644 shares of company stock valued at $ 112,704,831.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. increased its position in Brookfield Asset Management by 5.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,416,151 shares of the financial services provider’s stock worth $ 206,309,000 after buying an additional 191,545 shares in the last quarter. Millennium Management LLC increased its position in Brookfield Asset Management by 381.4% during the third quarter. Millennium Management LLC now owns 304,251 shares of the financial services provider’s stock worth $ 16,304,000 after buying an additional 241,044 shares in the last quarter. American Century Companies Inc. increased its position in Brookfield Asset Management by 7.4% during the fourth quarter. American Century Companies Inc. now owns 37,960 shares of the financial services provider’s stock worth $ 2,292,000 after buying an additional 2,603 shares in the last quarter. Envestnet Asset Management Inc. increased its position in 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 worth $ 29,594,000 after buying an additional 31,860 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC increased its position in Brookfield Asset Management by 3.2% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 2,078,135 shares of the financial services provider’s stock worth $ 125,478,000 after buying an additional 64,059 shares in the last quarter. 60.24% of the stock is owned by hedge funds and other institutional investors.
About Brookfield Asset Management: (NYSE: BAM)
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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