Princeton Global Asset Management LLC Lowers Stake in Brookfield Asset Management Inc. (NYSE:BAM)


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Princeton Global Asset Management LLC cut its position in shares of Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,702 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Brookfield Asset Management were worth $2,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BAM. CWM LLC grew its holdings in shares of Brookfield Asset Management by 59.0% during the fourth quarter. CWM LLC now owns 741 shares of the financial services provider’s stock worth $31,000 after buying an additional 275 shares in the last quarter. BNC Wealth Management LLC purchased a new stake in shares of Brookfield Asset Management during the third quarter worth about $33,000. International Assets Investment Management LLC purchased a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $33,000. Perigon Wealth Management LLC purchased a new stake in shares of Brookfield Asset Management during the fourth quarter worth about $48,000. Finally, First Command Bank purchased a new stake in Brookfield Asset Management in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 60.33% of the company’s stock.

BAM has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their target price on shares of Brookfield Asset Management from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, February 12th. Credit Suisse Group boosted their target price on shares of Brookfield Asset Management from $47.00 to $48.50 and gave the company an “outperform” rating in a report on Tuesday, January 5th. The Goldman Sachs Group initiated coverage on shares of Brookfield Asset Management in a report on Wednesday, November 18th. They issued a “conviction-buy” rating and a $51.00 target price for the company. Finally, TD Securities boosted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company an “action list buy” rating in a report on Friday, February 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.63.

Shares of Brookfield Asset Management stock traded up $0.09 during trading on Tuesday, hitting $43.51. 74,973 shares of the stock were exchanged, compared to its average volume of 3,080,938. The stock’s fifty day moving average is $40.17 and its 200 day moving average is $37.02. The stock has a market cap of $65.68 billion, a PE ratio of -1,171.76 and a beta of 1.27. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.85 and a current ratio of 1.03. Brookfield Asset Management Inc. has a 12 month low of $21.57 and a 12 month high of $44.54.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 10th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.04 by $0.37. Brookfield Asset Management had a net margin of 0.11% and a return on equity of 0.06%. During the same quarter last year, the company earned $0.49 earnings per share. Sell-side analysts anticipate that Brookfield Asset Management Inc. will post 1.87 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Investors of record on Friday, February 26th will be issued a $0.13 dividend. The ex-dividend date is Thursday, February 25th. This represents a $0.52 annualized dividend and a yield of 1.20%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.12. Brookfield Asset Management’s dividend payout ratio is presently 27.75%.

Brookfield Asset Management Profile

Brookfield Asset Management is a leading global alternative asset manager and one of the largest investors in real assets. Our investment focus is on real estate, renewable power, infrastructure and private equity assets. Our objective is to generate attractive long-term risk-adjusted returns for the benefit of our clients and shareholders.

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

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