Alpine Group USVI LLC bought a new stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 215,775 shares of the financial services provider’s stock, valued at approximately $11,455,000. Brookfield Asset Management makes up about 2.9% of Alpine Group USVI LLC’s investment portfolio, making the stock its 9th largest position.
A number of other large investors have also recently modified their holdings of the business. HM Payson & Co. bought a new stake in shares of Brookfield Asset Management during the second quarter worth $32,000. AdvisorNet Financial Inc increased its position in shares of Brookfield Asset Management by 233.0% during the second quarter. AdvisorNet Financial Inc now owns 979 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 685 shares in the last quarter. Huntington National Bank bought a new stake in shares of Brookfield Asset Management during the second quarter worth $48,000. North Star Investment Management Corp. bought a new stake in shares of Brookfield Asset Management during the third quarter worth $69,000. Finally, Captrust Financial Advisors increased its position in shares of Brookfield Asset Management by 24.2% during the second quarter. Captrust Financial Advisors now owns 1,644 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 320 shares in the last quarter. 60.87% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on BAM shares. ValuEngine downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. BMO Capital Markets increased their price objective on shares of Brookfield Asset Management from $55.00 to $59.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Citigroup increased their price objective on shares of Brookfield Asset Management from $56.00 to $62.50 and gave the stock a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada increased their price objective on shares of Brookfield Asset Management from $54.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Finally, TD Securities increased their price objective on shares of Brookfield Asset Management from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $58.93.
BAM traded up $0.33 during trading hours on Friday, hitting $52.62. 1,402,672 shares of the company’s stock were exchanged, compared to its average volume of 2,488,438. Brookfield Asset Management Inc has a 1-year low of $36.58 and a 1-year high of $54.47. The stock’s 50-day moving average is $52.41 and its two-hundred day moving average is $49.10. The stock has a market cap of $50.76 billion, a price-to-earnings ratio of 17.48 and a beta of 1.06. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.29.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.25. Brookfield Asset Management had a net margin of 4.86% and a return on equity of 3.31%. The business had revenue of $16.92 billion during the quarter, compared to analysts’ expectations of $14.30 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The firm’s revenue was up 27.5% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 30th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, August 29th.
Brookfield Asset Management 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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