LGT Capital Partners LTD. Sells 151,610 Shares of Brookfield Asset Management Inc (BAM)

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LGT Capital Partners LTD. cut its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 27.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 392,020 shares of the financial services provider’s stock after selling 151,610 shares during the quarter. LGT Capital Partners LTD.’s holdings in Brookfield Asset Management were worth $15,019,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BAM. William Blair Investment Management LLC raised its holdings in Brookfield Asset Management by 72.5% in the third quarter. William Blair Investment Management LLC now owns 5,417,460 shares of the financial services provider’s stock worth $241,239,000 after purchasing an additional 2,276,304 shares in the last quarter. CI Investments Inc. raised its holdings in Brookfield Asset Management by 36.1% in the third quarter. CI Investments Inc. now owns 7,818,294 shares of the financial services provider’s stock worth $348,149,000 after purchasing an additional 2,073,678 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Brookfield Asset Management by 364.1% in the third quarter. Hsbc Holdings PLC now owns 1,267,360 shares of the financial services provider’s stock worth $56,486,000 after purchasing an additional 994,285 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Brookfield Asset Management by 233.9% in the third quarter. JPMorgan Chase & Co. now owns 1,273,404 shares of the financial services provider’s stock worth $56,703,000 after purchasing an additional 891,996 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in Brookfield Asset Management by 8.2% in the third quarter. Neuberger Berman Group LLC now owns 8,562,283 shares of the financial services provider’s stock worth $381,278,000 after purchasing an additional 652,079 shares in the last quarter. Institutional investors and hedge funds own 60.73% of the company’s stock.

Shares of BAM traded up $0.03 during mid-day trading on Monday, hitting $40.68. 6,561 shares of the company traded hands, compared to its average volume of 1,333,762. Brookfield Asset Management Inc has a 1-year low of $36.58 and a 1-year high of $45.04. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 1.19. The company has a market cap of $40.53 billion, a P/E ratio of 15.75 and a beta of 1.13.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Thursday, November 8th. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.21). Brookfield Asset Management had a net margin of 5.10% and a return on equity of 3.52%. The company had revenue of $14.86 billion for the quarter. During the same quarter in the prior year, the business posted $0.79 EPS. The firm’s quarterly revenue was up 21.0% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Friday, November 30th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $0.60 annualized dividend and a dividend yield of 1.47%.

A number of equities analysts have commented on the stock. BMO Capital Markets assumed coverage on shares of Brookfield Asset Management in a report on Thursday, September 20th. They issued an “outperform” rating and a $54.00 target price for the company. TD Securities boosted their target price on shares of Brookfield Asset Management from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, November 9th. Credit Suisse Group set a $50.00 target price on shares of Brookfield Asset Management and gave the stock a “buy” rating in a report on Sunday, December 23rd. Scotiabank set a $53.00 target price on shares of Brookfield Asset Management and gave the stock a “buy” rating in a report on Thursday, October 18th. Finally, Citigroup assumed coverage on shares of Brookfield Asset Management in a report on Tuesday, November 13th. They issued a “buy” rating and a $49.50 target price for the company. Six analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $51.75.

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Brookfield Asset Management Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.

Further Reading: Federal Reserve

Want to see what other hedge funds are holding BAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A).

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

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