Alps Advisors Inc. Trims Stake in Brookfield Asset Management Inc (BAM)

Alps Advisors Inc. lessened its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 8.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 229,300 shares of the financial services provider’s stock after selling 20,159 shares during the period. Alps Advisors Inc.’s holdings in Brookfield Asset Management were worth $9,984,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BAM. Ameriprise Financial Inc. lifted its holdings in Brookfield Asset Management by 14.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 25,429 shares of the financial services provider’s stock valued at $1,000,000 after acquiring an additional 3,231 shares during the last quarter. Northern Trust Corp lifted its stake in Brookfield Asset Management by 5.3% during the second quarter. Northern Trust Corp now owns 880,991 shares of the financial services provider’s stock valued at $34,544,000 after buying an additional 44,711 shares in the last quarter. M&T Bank Corp lifted its stake in Brookfield Asset Management by 0.4% during the second quarter. M&T Bank Corp now owns 8,325 shares of the financial services provider’s stock valued at $327,000 after buying an additional 35 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in Brookfield Asset Management by 12.0% during the second quarter. Parametric Portfolio Associates LLC now owns 211,019 shares of the financial services provider’s stock valued at $8,274,000 after buying an additional 22,537 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Brookfield Asset Management by 184.6% during the second quarter. Dimensional Fund Advisors LP now owns 45,323 shares of the financial services provider’s stock valued at $1,777,000 after buying an additional 29,399 shares in the last quarter. Hedge funds and other institutional investors own 54.31% of the company’s stock.

Brookfield Asset Management Inc (NYSE BAM) opened at $38.80 on Thursday. Brookfield Asset Management Inc has a twelve month low of $35.30 and a twelve month high of $44.33. The company has a quick ratio of 1.01, a current ratio of 1.29 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $37,444.44, a P/E ratio of 86.22 and a beta of 0.98.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Thursday, February 15th. The financial services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $0.15 by $1.13. Brookfield Asset Management had a return on equity of 0.86% and a net margin of 1.70%. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 88.4% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, February 28th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.55%. Brookfield Asset Management’s dividend payout ratio is 124.45%.

BAM has been the topic of a number of research reports. Citigroup dropped their target price on Brookfield Asset Management from $50.00 to $49.50 and set a “buy” rating on the stock in a report on Friday, November 10th. Scotiabank upped their target price on Brookfield Asset Management from $44.75 to $45.50 and gave the company an “outperform” rating in a report on Friday, November 10th. Royal Bank of Canada upped their target price on Brookfield Asset Management from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, TheStreet downgraded Brookfield Asset Management from a “b” rating to a “c+” rating in a report on Thursday, November 16th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Brookfield Asset Management presently has a consensus rating of “Buy” and an average price target of $47.00.

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About Brookfield Asset Management

Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.

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

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