Blueshift Asset Management LLC Lowers Position in Brookfield Asset Management Inc. (NYSE:BAM)

Blueshift Asset Management LLC lowered its holdings in Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A) by 14.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,718 shares of the financial services provider’s stock after selling 1,916 shares during the period. Blueshift Asset Management LLC’s holdings in Brookfield Asset Management were worth $597,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Trustcore Financial Services LLC bought a new position in shares of Brookfield Asset Management during the 2nd quarter valued at about $26,000. Strategic Blueprint LLC bought a new position in shares of Brookfield Asset Management during the 2nd quarter valued at about $36,000. Exchange Traded Concepts LLC bought a new position in shares of Brookfield Asset Management during the 2nd quarter valued at about $40,000. Red Door Wealth Management LLC bought a new position in shares of Brookfield Asset Management during the 2nd quarter valued at about $40,000. Finally, Vigilant Capital Management LLC bought a new position in shares of Brookfield Asset Management during the 2nd quarter valued at about $87,000. 61.37% of the stock is currently owned by hedge funds and other institutional investors.

BAM has been the topic of several recent research reports. BMO Capital Markets increased their price objective on Brookfield Asset Management from C$57.00 to C$61.00 and gave the company an “outperform” rating in a research report on Friday, August 13th. Scotiabank raised their price target on Brookfield Asset Management from $62.50 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, August 16th. TD Securities raised their price target on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an “action list buy” rating in a research report on Sunday, August 15th. Zacks Investment Research lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, August 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Brookfield Asset Management from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, July 12th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $57.50.

BAM opened at $56.77 on Thursday. The stock has a market cap of $93.11 billion, a PE ratio of 32.26 and a beta of 1.25. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.18. The business has a 50 day moving average of $55.69 and a 200-day moving average of $51.17. Brookfield Asset Management Inc. has a 52 week low of $29.09 and a 52 week high of $57.83.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, August 11th. The financial services provider reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.26). The firm had revenue of $18.29 billion during the quarter. Brookfield Asset Management had a net margin of 4.21% and a return on equity of 2.43%. During the same period in the previous year, the firm posted ($0.43) EPS. Equities analysts anticipate that Brookfield Asset Management Inc. will post 2.17 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 29th. Stockholders of record on Tuesday, August 31st were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Monday, August 30th. Brookfield Asset Management’s payout ratio is presently -433.33%.

About Brookfield Asset Management

Brookfield Asset Management, Inc engages in the management of public and private investment products and services for institutional and retail clients. It operates through the following segments: Asset Management, Real Estate, Renewable Power, Infrastructure, Private Equity, Residential Development, and Corporate Activities.

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

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