Brookfield Asset Management Inc (NYSE:BAM) Shares Sold by United Capital Financial Advisers LLC

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United Capital Financial Advisers LLC cut its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,775 shares of the financial services provider’s stock after selling 1,039 shares during the period. United Capital Financial Advisers LLC’s holdings in Brookfield Asset Management were worth $1,805,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in Brookfield Asset Management by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 274,245 shares of the financial services provider’s stock valued at $10,517,000 after acquiring an additional 7,951 shares during the period. Stephens Inc. AR lifted its stake in Brookfield Asset Management by 49.0% during the 1st quarter. Stephens Inc. AR now owns 11,366 shares of the financial services provider’s stock valued at $530,000 after acquiring an additional 3,740 shares during the period. First Allied Advisory Services Inc. acquired a new stake in Brookfield Asset Management during the 1st quarter valued at approximately $239,000. Moors & Cabot Inc. acquired a new stake in Brookfield Asset Management during the 1st quarter valued at approximately $206,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Brookfield Asset Management by 1.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 125,824 shares of the financial services provider’s stock valued at $5,860,000 after acquiring an additional 2,224 shares during the period. Institutional investors own 60.79% of the company’s stock.

Several analysts have commented on the stock. TD Securities lifted their price objective on shares of Brookfield Asset Management from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, August 12th. BMO Capital Markets lifted their price objective on shares of Brookfield Asset Management from $55.00 to $59.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Citigroup lifted their price objective on shares of Brookfield Asset Management from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Six analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $56.50.

Shares of NYSE:BAM traded up $0.72 during trading on Thursday, hitting $54.30. 82,973 shares of the stock traded hands, compared to its average volume of 1,508,514. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.29. The company has a market cap of $53.35 billion, a price-to-earnings ratio of 18.08 and a beta of 1.08. The company has a fifty day moving average price of $51.26 and a two-hundred day moving average price of $48.36. Brookfield Asset Management Inc has a 52-week low of $36.58 and a 52-week high of $54.11.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Thursday, August 8th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.25. The firm had revenue of $16.92 billion during the quarter, compared to analyst estimates of $14.30 billion. Brookfield Asset Management had a net margin of 4.86% and a return on equity of 3.31%. The business’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, August 29th.

In other news, Director Brookfield Asset Management In sold 1,900,000 shares of Brookfield Asset Management stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $23.75, for a total transaction of $45,125,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Brookfield Asset Management Company Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

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

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