Ritholtz Wealth Management decreased its position in shares of Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A) by 15.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,635 shares of the financial services provider’s stock after selling 1,209 shares during the quarter. Ritholtz Wealth Management’s holdings in Brookfield Asset Management were worth $219,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp bought a new position in Brookfield Asset Management during the 2nd quarter worth approximately $26,000. City Holding Co. boosted its stake in Brookfield Asset Management by 49.7% during the 2nd quarter. City Holding Co. now owns 934 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 310 shares during the last quarter. CWM LLC boosted its stake in Brookfield Asset Management by 112.5% during the 2nd quarter. CWM LLC now owns 1,156 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 612 shares during the last quarter. HBC Financial Services PLLC lifted its stake in Brookfield Asset Management by 176.2% in the second quarter. HBC Financial Services PLLC now owns 1,298 shares of the financial services provider’s stock valued at $45,000 after buying an additional 828 shares in the last quarter. Finally, Balentine LLC lifted its stake in Brookfield Asset Management by 87.1% in the second quarter. Balentine LLC now owns 1,373 shares of the financial services provider’s stock valued at $45,000 after buying an additional 639 shares in the last quarter. 59.29% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Ocm Growth Holdings Llc bought 21,045 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was purchased at an average price of $13.00 per share, with a total value of $273,585.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ati Investment Parent, Llc sold 47,625,000 shares of the stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $22.00, for a total transaction of $1,047,750,000.00. The disclosure for this sale can be found here.
BAM traded down $0.95 during trading on Monday, reaching $32.96. 38,601 shares of the stock were exchanged, compared to its average volume of 2,507,754. The stock has a market cap of $53.38 billion, a P/E ratio of 72.15 and a beta of 1.07. Brookfield Asset Management Inc. has a twelve month low of $21.57 and a twelve month high of $45.61. The stock’s 50 day moving average price is $33.54 and its two-hundred day moving average price is $33.27. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.82 and a current ratio of 1.03.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Thursday, August 13th. The financial services provider reported ($0.43) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.86). Brookfield Asset Management had a return on equity of 0.78% and a net margin of 1.30%. The firm had revenue of $12.83 billion for the quarter. During the same quarter last year, the firm posted $0.24 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, August 31st were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. Brookfield Asset Management’s dividend payout ratio is currently 27.75%.
A number of research analysts have weighed in on BAM shares. Royal Bank of Canada lifted their price target on shares of Brookfield Asset Management from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, August 17th. ValuEngine raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, August 13th. TD Securities lifted their price target on shares of Brookfield Asset Management from $45.00 to $46.00 and gave the company an “action list buy” rating in a research note on Friday, September 25th. Smith Barney Citigroup raised shares of Brookfield Asset Management from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Monday, October 19th. Finally, Keefe, Bruyette & Woods raised shares of Brookfield Asset Management from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $37.00 to $41.00 in a research note on Monday, August 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $40.85.
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.
Further Reading: What is intrinsic value?
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