TD Asset Management Inc. raised its position in Brookfield Asset Management Inc. (NYSE:BAM – Get Rating) (TSE:BAM.A) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,636,753 shares of the financial services provider’s stock after acquiring an additional 272,990 shares during the quarter. Brookfield Asset Management makes up about 1.6% of TD Asset Management Inc.’s holdings, making the stock its 9th biggest holding. TD Asset Management Inc. owned about 1.87% of Brookfield Asset Management worth $1,733,642,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in BAM. Norges Bank purchased a new position in Brookfield Asset Management in the fourth quarter worth approximately $810,807,000. Principal Financial Group Inc. lifted its stake in Brookfield Asset Management by 12.8% in the first quarter. Principal Financial Group Inc. now owns 43,430,538 shares of the financial services provider’s stock worth $2,456,964,000 after acquiring an additional 4,943,494 shares during the last quarter. Alberta Investment Management Corp lifted its position in shares of Brookfield Asset Management by 69.2% during the 4th quarter. Alberta Investment Management Corp now owns 5,153,682 shares of the financial services provider’s stock worth $311,673,000 after buying an additional 2,108,640 shares during the last quarter. AGF Investments Inc. lifted its position in shares of Brookfield Asset Management by 19.8% during the 1st quarter. AGF Investments Inc. now owns 3,841,832 shares of the financial services provider’s stock worth $217,207,000 after buying an additional 634,832 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Brookfield Asset Management by 16.1% during the 4th quarter. Geode Capital Management LLC now owns 3,874,046 shares of the financial services provider’s stock worth $233,601,000 after buying an additional 537,954 shares during the last quarter. Hedge funds and other institutional investors own 60.24% of the company’s stock.
Brookfield Asset Management Stock Performance
BAM stock traded down $0.57 on Wednesday, hitting $52.50. The company’s stock had a trading volume of 36,582 shares, compared to its average volume of 1,467,400. The firm has a 50 day moving average of $47.10 and a two-hundred day moving average of $50.98. Brookfield Asset Management Inc. has a 1 year low of $42.21 and a 1 year high of $62.47. The stock has a market cap of $86.18 billion, a price-to-earnings ratio of 22.90 and a beta of 1.32. The company has a current ratio of 1.31, a quick ratio of 1.11 and a debt-to-equity ratio of 1.44.
Brookfield Asset Management Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be paid a $0.14 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.56 annualized dividend and a yield of 1.07%. Brookfield Asset Management’s dividend payout ratio is currently 24.56%.
Wall Street Analysts Forecast Growth
BAM has been the subject of several recent analyst reports. Royal Bank of Canada reduced their price objective on shares of Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, May 20th. Credit Suisse Group upgraded shares of Brookfield Asset Management from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $68.00 to $71.50 in a research report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Brookfield Asset Management from $57.00 to $52.00 in a research report on Wednesday, July 13th. Finally, StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.17.
Insider Buying and Selling at Brookfield Asset Management
In other Brookfield Asset Management news, major shareholder Oaktree Capital Management Lp sold 254,754 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $11.32, for a total value of $2,883,815.28. Following the transaction, the insider now directly owns 12,227,043 shares of the company’s stock, valued at approximately $138,410,126.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 610,260 shares of company stock valued at $6,909,229.
Brookfield Asset Management Profile
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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