Williams Jones Wealth Management LLC. boosted its holdings in shares of Brookfield Asset Management Inc. (NYSE:BAM – Get Rating) (TSE:BAM.A) by 41.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,674 shares of the financial services provider’s stock after purchasing an additional 14,168 shares during the period. Williams Jones Wealth Management LLC.’s holdings in Brookfield Asset Management were worth $2,753,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Brookfield Asset Management by 46.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock valued at $36,000 after buying an additional 201 shares during the period. Glassman Wealth Services lifted its holdings in shares of Brookfield Asset Management by 6.5% during the 4th quarter. Glassman Wealth Services now owns 3,951 shares of the financial services provider’s stock valued at $239,000 after buying an additional 241 shares during the period. Blue Fin Capital Inc. lifted its holdings in shares of Brookfield Asset Management by 0.3% during the 1st quarter. Blue Fin Capital Inc. now owns 77,803 shares of the financial services provider’s stock valued at $4,401,000 after buying an additional 264 shares during the period. Belpointe Asset Management LLC lifted its holdings in shares of Brookfield Asset Management by 2.6% during the 1st quarter. Belpointe Asset Management LLC now owns 10,470 shares of the financial services provider’s stock valued at $592,000 after buying an additional 268 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Brookfield Asset Management by 0.7% during the 1st quarter. American Century Companies Inc. now owns 38,228 shares of the financial services provider’s stock valued at $2,161,000 after buying an additional 268 shares during the period. Hedge funds and other institutional investors own 59.54% of the company’s stock.
Wall Street Analysts Forecast Growth
BAM has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on Brookfield Asset Management from $57.00 to $52.00 in a report on Wednesday, July 13th. TD Securities started coverage on Brookfield Asset Management in a research note on Friday. They issued an “action list buy” rating and a $72.00 price objective for the company. Royal Bank of Canada reduced their price objective on Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, May 20th. Finally, StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.
Brookfield Asset Management Trading Up 1.8 %
Shares of BAM stock opened at $50.30 on Monday. Brookfield Asset Management Inc. has a 52-week low of $42.21 and a 52-week high of $62.47. 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 firm has a market capitalization of $82.31 billion, a PE ratio of 22.06 and a beta of 1.31. The stock has a fifty day simple moving average of $48.70 and a two-hundred day simple moving average of $50.22.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, August 11th. The financial services provider reported $0.34 earnings per share (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 business posted $1.01 earnings per share. On average, analysts predict that Brookfield Asset Management Inc. will post 3.19 EPS for the current fiscal year.
Brookfield Asset Management Dividend Announcement
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 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Tuesday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 24.56%.
About Brookfield Asset Management
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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