Fosun International Ltd cut its holdings in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 35.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,500 shares of the financial services provider’s stock after selling 3,500 shares during the period. Fosun International Ltd’s holdings in Brookfield Asset Management were worth $287,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of BAM. AGF Investments Inc. boosted its stake in shares of Brookfield Asset Management by 296.8% in the first quarter. AGF Investments Inc. now owns 2,592,698 shares of the financial services provider’s stock valued at $114,924,000 after purchasing an additional 1,939,227 shares during the period. Trexquant Investment LP lifted its holdings in Brookfield Asset Management by 50.8% during the 1st quarter. Trexquant Investment LP now owns 7,795 shares of the financial services provider’s stock worth $345,000 after buying an additional 2,627 shares in the last quarter. Citizens Financial Group Inc RI purchased a new position in Brookfield Asset Management in the 1st quarter valued at approximately $871,000. PNC Financial Services Group Inc. grew its stake in shares of Brookfield Asset Management by 4.5% in the first quarter. PNC Financial Services Group Inc. now owns 143,452 shares of the financial services provider’s stock worth $6,347,000 after acquiring an additional 6,154 shares in the last quarter. Finally, Mogy Joel R Investment Counsel Inc. increased its position in shares of Brookfield Asset Management by 68.3% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 6,058 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 2,458 shares during the period. 39.91% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on BAM shares. ValuEngine lowered Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Friday, May 1st. Keefe, Bruyette & Woods cut Brookfield Asset Management from an “outperform” rating to a “market perform” rating in a research note on Sunday, March 29th. TD Securities upped their target price on shares of Brookfield Asset Management from $48.67 to $51.33 and gave the stock a “buy” rating in a research note on Friday, February 14th. TheStreet cut shares of Brookfield Asset Management from a “b-” rating to a “c” rating in a report on Thursday, May 14th. Finally, CIBC lowered their price target on shares of Brookfield Asset Management from $48.00 to $44.00 and set an “outperformer” rating for the company in a report on Friday, May 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $41.35.
Shares of BAM traded up $0.26 during midday trading on Friday, reaching $30.30. 2,319,665 shares of the stock were exchanged, compared to its average volume of 2,461,054. Brookfield Asset Management Inc has a twelve month low of $21.57 and a twelve month high of $45.61. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market capitalization of $47.25 billion, a price-to-earnings ratio of 26.58 and a beta of 1.18. The business’s 50-day moving average price is $32.50 and its 200 day moving average price is $51.55.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Thursday, May 14th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.68). The firm had revenue of $16.59 billion for the quarter. Brookfield Asset Management had a return on equity of 1.79% and a net margin of 2.74%. As a group, equities research analysts expect that Brookfield Asset Management Inc will post 1.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.58%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 27.75%.
Brookfield Asset Management Profile
Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.
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